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ser-zykov [4K]
4 years ago
15

Suppose consumers spent $42 million on Christmas trees last year, when the average tree cost was $30. This year they spend $42 m

illion, when the average tree costs $25. Assume that everything else remains constant. This data suggests that _____
Business
1 answer:
faltersainse [42]4 years ago
4 0

Answer:

The question is incomplete

Choose one correct answer from the following;

a.​the demand for trees is inelastic.

b. total revenue to tree producers rose this year.

c. consumers bought the same number of Christmas trees this year as last year.

d.​the price of the Christmas trees stayed the same.

e.​the demand for trees is unit elastic.

The answer is e.​the demand for trees is unit elastic.

Explanation:

Price elasticity of demand =( (25-30)/30 *100)/ 1680-1400/1400 *100)=1.2

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<h3>What is pest infestation?</h3>

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