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Calculate the price elasticity of demand using the method covered in class and the information provided below. Demand curve: x = 400 - 0.4p Initial
- Calculate the price elasticity of demand using the method covered in class and the information provided below.
Demand curve: x = 400 - 0.4p
Initial value of x: x_0 = 100
New value of x: x_1 = 120
The value of the price elasticity of demand is:
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Macroeconomics
Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty
1st Edition
978-0132109994, 0132109999
