Suppose the Quantity Demanded Is 1,000 Million Bushels of Peaches

question 128

Multiple Choice

Suppose the quantity demanded is 1,000 million bushels of peaches per year when the price is $3 per bushel and 1,500 million bushels when the price is $1 per bushel. The price elasticity of demand in this range of the demand curve is:

• A) elastic.
• B) inelastic.
• C) unitary elastic.
• D) infinitely elastic.

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