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A convenience store offers a discounted price of chewing gum at $1.25 per pack and the number of packs sold goes up to 375 packs
A convenience store offers a discounted price of chewing gum at $1.25 per pack and the number of packs sold goes up to 375 packs during the sale period.
What is the price elasticity of demand for chewing gum?
Is the demand for chewing gum elastic, inelastic or unit elastic?
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