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Suppose the price of apples increased from $2.00 to $3.00 per kg. As a result, the quantity demanded for apples decreased from 5000kg to 4000kg.

Suppose the price of apples increased from $2.00 to $3.00 per kg. As a result, the quantity demanded for apples decreased from 5000kg to 4000kg. What is the price elasticity of demand for apples?

-1000

-1

-0.5

-0.4

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