The following graph shows two known points (X and Y) on a demand curve for oranges. 10 7 Demand 1 10 20 30 40 50 60 70 80 90 100 QUANTITY (Thousands of pounds of oranges) 0.05 0.2 0.25 5 According to the midpoint method, the price elasticity of demand for oranges between point X and point Y is approximately , which suggests that the demand for oranges is v between points X and Y. PRICE (Dollars per pound)

Q: 1.

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