Question 1 part b

Question 1 part b - 40 $40.00 20 $50.00 10 $60.00 change in...

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b. Determine the price elasticity of demand at each quantity demanded using the formula: Percentage Quantity Demand Price Elasticity 100  $10.00  80  $20.00  60  $30.00 
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Unformatted text preview: 40 $40.00 20 $50.00 10 $60.00 change in quantity demanded = (Q 2-Q 1 )/Q 1 divided by percentage change in price (P 2 -P 1 )P 1...
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This note was uploaded on 08/04/2011 for the course ECN 601 taught by Professor Professor during the Spring '10 term at Grand Canyon.

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