Use the demand curve in CP-1 to answer the following questions. Use the mid-point method in your
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Use the demand curve in CP-1 to answer the following questions. Use the mid-point method in your calculations.
a. What is the price elasticity of demand for a price change from $0 to $20?
b. What is the price elasticity of demand for a price change from $20 to $40?
c. What is the price elasticity of demand for a price change from $40 to $60?
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