Question: Could you please solve this with an explanation too. II. ELASTICITY Demand for oranges in the local market is given by the demand equation q

Could you please solve this with an explanation too.

II. ELASTICITY Demand for oranges in the local market is given by the demand equation q = 100 4 p, where q is the quantity demanded (in lbs.) and p is the price (in $/lb.). 1. Determine the price-elasticity of demand when the price of oranges increases from 32/11). to $3X1b. Interpret your result

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