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ECON4002 Coursework Problem Set page 18 B8. The price of cranberries rises from $4 per unit to $6 per unit, and the quantity demanded decreases

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ECON4002 Coursework Problem Set page 18 B8. The price of cranberries rises from $4 per unit to $6 per unit, and the quantity demanded decreases from 600 units to 400 units. Over this price range, the price elasticity of demand (in absolute term) is unity (one). TRUE / FALSE (Explain if FALSE)

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