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show calculations On Tuesday, March 31, 2015, the Lakeland Ledgar announced that orange sales were down 6.4% over the past 4 weeks, while orange prices
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On Tuesday, March 31, 2015, the Lakeland Ledgar announced that orange sales were down 6.4% over the past 4 weeks, while orange prices had increased 5.2%. Can we conclude from these data that the elasticity of demand is 6.4% / 5.2% =1.23? Why or why not? Explain.
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