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Title: The own-price elasticity of demand for oranges at the farm level is -0.3. Suppose that an unexpected ...
Post by: Alek Hsiang on Mar 17, 2019

The own-price elasticity of demand for oranges at the farm level is -0.3. Suppose that an unexpected freeze occurs resulting in a 6% drop in orange production. Orange prices will



• Fall by 20%.

• Rise by 6%.

• Rise by 20%.

• Can't tell; insufficient information


Title: The own-price elasticity of demand for oranges at the farm level is -0.3. Suppose that an unexpected ...
Post by: shawntage on Mar 17, 2019
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