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Consider the market for a new DVD movie, where the price is initially $10 and 40 copies are sold per day at a superstore, as

Consider the market for a new DVD movie, where the price is initially $10 and 40 copies are sold per day at a superstore, as indicated in the figure to the right. The superstore is considering lowering the price to $8. What is the price elasticity of demand between these two prices (use the Midpoint Formula)? The price elasticity of demand is (Enter your response as a real number rounded to two decimal places.)

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