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Suppose a Hurricane Decreased the Supply of Oranges So That

Question 213

Multiple Choice

Suppose a hurricane decreased the supply of oranges so that the price of oranges rose from $120 a tonne to $180 a tonne and quantity sold decreased from 800 tonnes to 240 tonnes.The absolute value of the price elasticity of demand is:


A) 0) 11
B) 0) 37
C) 2) 69
D) 9) 33

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