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Suppose the current price of barley is $7 per bushel and at that price 100,000 bushels are demanded. If the price of barley rises 14%

Suppose the current price of barley is $7 per bushel and at that price 100,000 bushels are demanded. If the price of barley rises 14% and quantity demanded decreases by 23% what is the price elasticity of barley? 0.61 1.64 0.14 0.23

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