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7. Please help Miss Ela Sticity, a popular advice columnist for loveless health economists in search of fame and fortunre, answer the following letter from
7. Please help Miss Ela Sticity, a popular advice columnist for loveless health economists in search of fame and fortunre, answer the following letter from a fan. Dear Miss Ela, I am desperately trying to impress my girlfriend but to no avail. She is a student at TWU and will only comment on my Tik Tok if I can estimate the elasticity of demand for the data shown in the table below. Please help me by estimating elasticity for two price changes: a) price increase from $5 to $14 per hour; and b) price increase from $14 to $5 per hour
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