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Given an original price of N3.50 per kilogram of rice and a change in price of 1...


Question

Given an original price of N3.50 per kilogram of rice and a change in price of 1.40, and given the quantity purchase at the old price as 10kg and a change in the quality as 5kg after the price change, the elasticity is equal to?

Options

A)
10.20
B)
3.57
C)
1.25
D)
0.80

The correct answer is C.


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