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mdagenh1 mdagenh1
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5 years ago

The own-price elasticity for cherries at the farm level is —0.60. Because of the recent freeze in Washington, cherry production will fall by 12 percent. Cherry prices are likely to



• Rise by 20%.

• Remain the same.

• Fall by 20%.

• Can't tell; insufficient information.
Textbook 
Introduction to Agricultural Economics

Introduction to Agricultural Economics


Edition: 7th
Authors:
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GparkerGparker
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5 years ago
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mdagenh1 Author
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5 years ago
Thanks
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