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jacksonfive09 jacksonfive09
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5 years ago

Suppose that the own-price elasticity for Ragu spaghetti sauce is -1.25. Which of the following is (are) true?



• A 4% increase in price leads to a 5% decrease in quantity demanded.

• A 10% decrease in price leads to an 8% increase in quantity demanded.

• The demand for Ragu spaghetti sauce is unitary elastic.

• None of these.
Textbook 
Introduction to Agricultural Economics

Introduction to Agricultural Economics


Edition: 7th
Authors:
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jenniferagrethejenniferagrethe
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