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The Price Elasticity of Demand for Potatoes Is Estimated to Be

Question 71

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The price elasticity of demand for potatoes is estimated to be -1.3,and the quantity demanded of potatoes is 3,000 bushels per week.In this situation,a 4% rise in the price of potatoes would reduce the quantity demanded by


A) 92 bushels per week.
B) 120 bushels per week.
C) 156 bushels per week.
D) 975 bushels per week.

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