The elasticity of demand coefficient for milk is about - 0.25 while that of beef and chicken

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The elasticity of demand coefficient for milk is about - 0.25 while that of beef and chicken is about - 1.0. What does this suggest about milk compared with the meats?

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Agricultural Economics

ISBN: 978-0136071921

3rd edition

Authors: Evan Drummond, John Goodwin

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Question Posted: Apr 12, 2016 10:34 AM

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The elasticity of demand coefficient for milk is about - 0.25 while that of beef and chicken

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Demand for milk is inelastic while beef and chicken are unitary elastic The two ch...View the full answer

Agricultural Economics

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