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What Is the Elasticity of Residual Supply Faced by the USA

Question 19

Multiple Choice

What is the elasticity of residual supply faced by the USA in the cashew juice market,where the market supply elasticity is 1,the elasticity of demand of the other countries is -2,and the U.S.imports 10% of the world's cashew juice production?


A) 14
B) 20
C) 28
D) 34

Correct Answer:

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