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Suppose that the market for frozen orange juice is in equilibrium at a price of $1.00 per can and a quantity of 4000 cans per
Suppose that the market for frozen orange juice is in equilibrium at a price of $1.00 per can and a quantity of 4000 cans per month. Suppose that when the price changes to $2.00 per can, the quantity demanded falls to 1800 cans per month, and the quantity supplied increases to 5000 cans per month. The price elasticity of demand for frozen orange juice between the prices of $1.00 and $2.00 is ----- . (Round your answer to 2 decimal places.)
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