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Using the Average Price and Average Quantity, What Is the Elasticity

Question 89

Multiple Choice

Using the average price and average quantity, what is the elasticity of demand for oranges when the price of oranges changes from $200 to $160 per tonne and as a result the quantity demanded changes from 1000 to 1400 tonnes?


A) 0.1
B) 0.67
C) 1.5
D) 10.0

Correct Answer:

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