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23-09-2020
Advanced Placement (AP)

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why is demand for fresh strawberries elastic?

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alvirs681 alvirs681

23-09-2020

Answer:

The easy access to substitutes for berries is likely to be one reason why demand is own-price elastic. Among the four types of berries, the retail demand for strawberries is the least responsive to the price with an elasticity of-1.26.

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