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-The Table Above Gives the Demand Schedule for Snow Peas

question 203

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  -The table above gives the demand schedule for snow peas. If the price of snow peas falls from $4.00 to $3.00 a bushel, total revenue will A)  increase because demand is elastic in this range. B)  decrease because demand is elastic in this range. C)  increase because demand is inelastic in this range. D)  decrease because demand is inelastic in this range.
-The table above gives the demand schedule for snow peas. If the price of snow peas falls from $4.00 to $3.00 a bushel, total revenue will

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Definitions:

Cars

Wheeled motor vehicles used primarily for transportation of people.

Comparative Advantage

The ability of an individual, company, or country to produce a particular good or service at a lower opportunity cost than its competitors.

Import

The act of bringing goods or services into a country from abroad for the purpose of trade.

Export

The sale of goods or services from one country to another.

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