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1 . The following data shows the relationship between price and quantity demanded at four different prices for a product: P:$11,Qd=16 P=$9,Qd=24 P=$7,Qd=32 P=$5,Qd=40 Using

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1 . The following data shows the relationship between price and quantity demanded at four different prices for a product: P:$11,Qd=16 P=$9,Qd=24 P=$7,Qd=32 P=$5,Qd=40 Using the midpoints formula, what is the price elasticity of demand between: (a) $11 and $9; (b) 7 and $5? (show your work)

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