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Suppose the Price Elasticity of Demand of for Soy Beans

Question 25

Multiple Choice

Suppose the price elasticity of demand of for soy beans is 0.85.When the price of soybeans rises by 20 percent,the quantity demanded of soybeans falls by approximately _____________ percent.


A) 0.024
B) 26.67
C) 23.53
D) 17.00

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