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2. Calculate the own-price elasticity of demand between point a and point b, using the midpoint calculation (show your work for partial credit if necessary):

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2. Calculate the own-price elasticity of demand between point a and point b, using the midpoint calculation (show your work for partial credit if necessary): (5 points) Q2-21 (Q1+Q2)/2 Ed = P-P1 (P+P 2)/2 80 70 60 point a. Q=20, P-50 Price 40 point b. Q-30, P=40 30 20 10 Demand 10 20 30 40 50 60 70 80 90 Quantity

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