As a Result of a Poor Growing Season, the Supply

question 69

Multiple Choice

As a result of a poor growing season, the supply curve of apples shifted leftward, the equilibrium price of apples rose, and total revenue fell. This suggests that the price elasticity of demand for apples is

• A)perfectly inelastic.
• B)elastic.
• C)inelastic.
• D)unit elastic.
• E)perfectly elastic.

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