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Question
The quantity of raspberries sold at a local store increases from 100 pints to 1,500 pints when the price is reduced from $4.00 to $1.00. In this situation, the absolute price elasticity of demand for raspberries is approximately
A) 0.69.
B) 6.7.
C) 1.46.
D) 4.3.
Answer
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