Using the Average Price and Average Quantity, What Is the Elasticity

question 133

Multiple Choice

Using the average price and average quantity, what is the elasticity of demand for oranges when the price of oranges changes from $200 to $160 per bushel and so the quantity demanded changes from 1000 to 1400 bushels?

• A) 1.5
• B) 0.1
• C) 10.0
• D) 0.67

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Definitions:

Group-Oriented

An approach or strategy that emphasizes collective performance, actions, or outcomes over individual accomplishments.

Cohesive

Characterized by unity and consistency within a group of elements or parts, often referring to the coherence in written or spoken discourse.

Manifest

Apparent or observable.

Violent Television

Refers to television programming that includes scenes of physical or emotional violence, which can impact viewers' perceptions and behavior.