Use the following table to answer the question below. Jake's Production Possibilities ScheduleJane's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn01600801012020602080404030406020400800Who has the comparative advantage in the production of corn?

A. Jake
B. Jane
C. Both
D. Neither

Answer: A

Economics

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Refer to the above table. What is the absolute price elasticity of demand if a price falls from $7.50 to $7?

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