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Academic Approach to Elasticity

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18. The owner of a produce store found that when the price of a head of lettuce was raised from 50 cents to $1, the quantity sold per hour fell from 18 to 8. The arc elasticity of demand for lettuce is:

a. -0.56.

b. -1.15.

c. -0.8.

d. -1.57.

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