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Floods in Brazil, Columbia, and Bolivia wipe out 30% of the entire world's coffee

Floods in Brazil, Columbia, and Bolivia wipe out 30% of the entire world's coffee

Floods in Brazil, Columbia, and Bolivia wipe out 30% of the entire world's coffee production. As a result, if the price of coffee rises by 200%, the elasticity of demand for coffee is


[A]– 6.67
[B]– 67.00
[C]– 3.00
[D]None of the above.

Roshan kumar 12-Jan-2018

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