Asked by Angela
Suppose that in a month the price of oranges increases from $.75 to $1. At the same time, the quantity of oranges demanded decreases from 100 to 80. The price elasticity of demand for oranges (calculated using the initial value formula) is __________.
0.75
0.6
0.25
20
I have no idea
0.75
0.6
0.25
20
I have no idea
Answers
Answered by
Leo Galleguillos
What is the initial value formula?
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