If the Price Elasticity of Demand for Peaches Is 1

question 47

Multiple Choice

If the price elasticity of demand for peaches is 1.76 and the price elasticity of demand for apples is 1.59, then consumers are

• A)more sensitive to a change in the price of apples than they are to a change in the price of peaches.
• B)more sensitive to a change in the price of peaches than they are to a change in the price of apples.
• C)more likely to substitute strawberries for peaches than for apples.
• D)more likely to substitute strawberries for apples than for peaches.
• E)eating more peaches than apples.

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