(Answered) The price of cell phones rose slightly higher from 50000 to

Economics

The price of cell phones rose slightly higher from $500.00 to $550.00 this past month, and Samsung found out about Apple's release of the iPhone X, so in turn it decided to increase production of its Galaxy S8 from 150,000 to 300,000 to compete with its rival. What is the price elasticity of supply for Galaxy S8 phones?

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Macroeconomics, Economics

Category:- Macroeconomics
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