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Lauren1 Lauren1
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Posts: 4120
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9 years ago
When the price of oranges increases from $4 to $6 per bag, the quantity demanded of oranges decreases from 800 bags to 700 bags. The price elasticity of demand over this price range is equal to
A) 3.
B) 3/7 or 0.4286.
C) 1/3 or 0.3333.
D) 1/4 or 0.25.
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MrDerecheMrDereche
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#1
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9 years ago
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Lauren1 Author
wrote...
#2
9 years ago
Thank you, this really, really helps Heavy Heart
wrote...
#3
9 years ago
You're welcome!
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