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Loraine Loraine
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Posts: 4563
8 years ago
Suppose the demand for peaches sold from one roadside stand in Georgia is perfectly elastic. As a result, a 7 percent increase in the price charged by the owner of this stand leads to
A) zero peaches sold by this stand.
B) no change in the quantity demanded at this stand.
C) a 7 percent decrease in the quantity demanded at this stand.
D) a 7 percent decrease in demand at this stand.
E) a virtually infinite increase in the quantity demanded at this stand.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
Read 588 times
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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SmooothSmoooth
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8 years ago
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abbywithu27,  mj23320

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8 years ago
My pleasure Happy Dummy
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