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Suppose a drought decreased the supply of cotton so that the price of cotton rose from $120 a tonne to $180 a tonne and quantity

Suppose a drought decreased the supply of cotton so that the price of cotton rose from $120 a tonne to $180 a tonne and quantity sold decreased from 800 tonnes to 240 tonnes. What is the absolute value of the price elasticity of demand?

a.0.11

b.0.37

c.2.69

d.9.33

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