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May 28, 2015

Homework Help: economics

Posted by Anonymous on Thursday, October 18, 2007 at 2:32pm.

Suppose the price of apples rises from $3.50 a pound to $4.00 and your consumption of apples drops from 30 pounds of apples a month to 20 pounds of apples. Calculate your price elasticity of demand of apples. What can you say about your price elasticity of demand of apples? Is it elastic inelastic or unitary elastic?."

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