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Calculate and interpret the price elasticity of demand for alcohol, using the point 1 elasticity formula Starting price = $ 100 Starting quantity demanded =

Calculate and interpret the price elasticity of demand for alcohol, using the point 1 elasticity formula

Starting price = $ 100 Starting quantity demanded = 35 Final price = $ 200 Final quantity demanded = 25

From the previous result, what happens to the total income of the producer? Explain your answer in detail.

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