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    Elasticity type

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    Suppose the price of apples rises from $3 a pound to $3.50 and your consumption of apples drops from 35 pounds of apples a month to 20 pounds of apples. Calculate your price elasticity of demand of apples. What can you say about your price elasticity of demand of apples? Is it Elastic, Inelastic, or Unitary Elastic? Be sure to show the work you used to support your answer.

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    https://brainmass.com/economics/demand-supply/298530

    Solution Summary

    Absolute value of elasticity coefficient is found.

    $2.19