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A Kobra Kai karate school decided to increase the price of its beginning karate classes. After a month, it ran a calculation on the price
A Kobra Kai karate school decided to increase the price of its beginning karate classes. After a month, it ran a calculation on the price sensitivity of its beginning-class customers and discovered that the absolute value of the price elasticity was .75. What does this mean for the change in the school's class price and its effect on demand?
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