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15. Suppose the price of apples increases from $1.50 to $2.00 and the quantity demanded decreases from 40 to 30. What is the elasticity of

15. Suppose the price of apples increases from $1.50 to $2.00

and the quantity demanded decreases from 40 to 30. What

is the elasticity of demand and is it elastic, inelastic or unit

elastic?

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