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Calculate the Price Elasticity of Demand (PED) for diamond rings if there is a price increase from $10,000 to $12,000 and quantity demanded falls from

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Calculate the Price Elasticity of Demand (PED) for diamond rings if there is a price increase from $10,000 to $12,000 and quantity demanded falls from 100,000 to 90,000. Does this answer support what we have learned about elasticity and what we might expect for diamond rings? If so, why? (You may wish to describe a diagram here if it helps to clarify your answer)

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