If a Rise in the Price of Oranges from $7

question 471

Multiple Choice

If a rise in the price of oranges from $7 to $9 a bushel increases the quantity of bushels supplied from 4,500 to 5,500 bushels, the

• A) supply of oranges is elastic.
• B) supply of oranges is inelastic.
• C) demand for oranges is elastic.
• D) demand for oranges is inelastic.

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