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Exhibit 5-3 Demand Curves for Gallons of Orange Juice -Using Exhibit 5-3, Whose Elasticity of Demand Is Greatest When

Question 87

Multiple Choice

Exhibit 5-3 Demand curves for gallons of orange juice  Price  Albert  Betty  Carl  Dana  Edward 1001200901.520.50802224702.523.586133512533.536.5164543820374.539.524295311281115.5312.532\begin{array} { | c | c | c | c | c | c | } \hline \text { Price } & \text { Albert } & \text { Betty } & \text { Carl } & \text { Dana } & \text { Edward } \\\hline 10 & 0 & 1 & 2 & 0 & 0 \\9 & 0 & 1.5 & 2 & 0.5 & 0 \\8 & 0 & 2 & 2 & 2 & 4 \\7 & 0 & 2.5 & 2 & 3.5 & 8 \\6 & 1 & 3 & 3 & 5 & 12 \\5 & 3 & 3.5 & 3 & 6.5 & 16 \\4 & 5 & 4 & 3 & 8 & 20 \\3 & 7 & 4.5 & 3 & 9.5 & 24 \\2 & 9 & 5 & 3 & 11 & 28 \\1 & 11 & 5.5 & 3 & 12.5 & 32 \\\hline\end{array}
-Using Exhibit 5-3, whose elasticity of demand is greatest when the price falls from $7 to $6?


A) Albert
B) Betty
C) Carl
D) Dana
E) Edward

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