Suppose the price of tablets increases by 8 percent and producers respond by increasing the quantity supplied by 20 percent. The price elasticity of supply for tablets is: a) 0.4 and producers are very responsive to the price change. b) 0.4 and producers are not responsive to the price change. c) 2.5 and producers are very responsive to the price change. d) 2.5 and producers are not responsive to the price change.
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