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hiusy98 hiusy98
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7 years ago
According to the text, the price elasticity of demand for oranges has been estimated to be -0.62. This implies that a doubling of the price of oranges would cause the quantity demanded of oranges to:
A) increase by 6.2 percent.
B) decrease by 6.2 percent.
C) increase by 62 percent.
D) decrease by 62 percent.
Textbook 
Economics for Managers

Economics for Managers


Edition: 3rd
Author:
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toogootoogoo
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hiusy98 Author
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7 years ago
Project is complete now, thank you for your expertise!
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