The demand for a bushel of wheat in 1981 was given by the equation At a price of $3.46 per bushel, what is the price elasticity of demand? If the price of wheat falls to $3.27 per bushel, what happens to the revenue generated from the sale of wheat?

Question

The demand for a bushel of wheat in 1981 was given by the equation  At a price of $3.46 per bushel, what is the price elasticity of demand? If the price of wheat falls to $3.27 per bushel, what happens to the revenue generated from the sale of wheat?

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The Answer of The demand for a bushel of wheat in 1981 was given by the equation  At a price of $3.46 per bushel, what is the price elasticity of demand? If the price of wheat falls to $3.27 per bushel, what happens to the revenue generated from the sale of wheat?

The Demand for a Bushel of Wheat in 1981 Was