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Due to the COVID-19 pandemic, the price of rice has increased from 54,4 to $54 per kg but the quantity demanded for rice has decreased
Due to the COVID-19 pandemic, the price of rice has increased from 54,4 to $54 per kg but the quantity demanded for rice has decreased from 10 kg to 9 kg a month. Calculate the price elasticity of demand for rice. (Use midpoint method) 0 a. -0.85 0 b. -1.17 0 -1.93 O d. -0.52
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Macroeconomics Principles Applications And Tools
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
7th Edition
978-0134089034, 9780134062754, 134089030, 134062752, 978-0132555234
