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15) Suppose the price of eggs increases from $T.50 to $2.00 per dozen and as a result a typical farmer experiences a decrease in egg

15) Suppose the price of eggs increases from $T.50 to $2.00 per dozen and as a result a typical farmer experiences a decrease in egg sales from 300 to 200 dozen per week. Using the elasticity coefficient formula, the price elasticity of demand is A) 1 B 1.7 C) 1.4 D) -1.6

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