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Production falls and price of demand increases

A candy factory generated 5.2 million packages of gummy worms in this year as well as sold them for $1.27 all. Last year this sold 4.7 million packages of gummy worms of $1.36 all. Such firm’s gummy worms have price elasticity of demand roughly equivalent to: (1) 0.49. (2) 1.02. (3) 1.53. (4) 2.04. (5) 4.09.

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