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(a) You are given the following information.7000 tourist visited Elephant Hills Hotel in a given month when the accommodation rate was $100-00 per night. If

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(a) You are given the following information.7000 tourist visited Elephant Hills Hotel in a given month when the accommodation rate was $100-00 per night. If the price increases to $120-00, the number of arrivals changed to 5000. (i) Calculate the price elasticity of demand for Elephant Hills Hotel accommodation services [5]

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