Rain spoils the strawberry crop, the price rises from $4 to $6 a box, and the quantity

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Rain spoils the strawberry crop, the price rises from $4 to $6 a box, and the quantity demanded decreases from 1,000 to 600 boxes a week.
a. Calculate the price elasticity of demand over this price range.
b. Describe the demand for strawberries.

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Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

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Question Posted: Dec 15, 2015 06:58 AM

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Rain spoils the strawberry crop, the price rises from $4 to $6 a box, and the quantity

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a The price elasticity of demand is 125 The price elasticity of demand eq...View the full answer

Microeconomics

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