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Calculate the price elasticity of demand (PED) coefficient and interpret the value: a drop in the price of hydrogen-powered cars from $25,000 to $20,000 causes

Calculate the price elasticity of demand (PED) coefficient and interpret the value: a drop in the price of hydrogen-powered cars from $25,000 to $20,000 causes purchases of hydrogen-powered cars to increase from 750,000 to 1 million per year. Show all steps to your solution below.

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