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Question

<br/> -The price of a good is $1.20 per unit and annual demand is

800,000 units. Market research indicates that an increase in price of 10 cents per unit will result in a fall in annual demand of 75,000 units. What is the price elasticity of demand between prices of $1.20 and $1.30 per unit? (3 Pts)

Step-by-step answer

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