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Suppose a Hurricane Decreased the Supply of Oranges So That

Question 9

Multiple Choice

Suppose a hurricane decreased the supply of oranges so that the price of oranges rose from $120 a ton to $180 a ton and quantity sold decreased from 800 tons to 240 tons. What is the absolute value of the price elasticity of demand?


A) 0.11
B) 0.37
C) 2.69
D) 9.33

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