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Alek Hsiang Alek Hsiang
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5 years ago

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
Textbook 
Introduction to Agricultural Economics

Introduction to Agricultural Economics


Edition: 7th
Authors:
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shawntageshawntage
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#1
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5 years ago
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Alek Hsiang Author
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5 years ago
Just got PERFECT on my quiz
acaruso
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Yesterday
Good timing, thanks!
Lourd Jenkins
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2 hours ago
Thanks
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