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During a recent 30-day period, the El Sol Resort sold 4,000 rooms at an average room rate of $80. During the next 30-day period, the

During a recent 30-day period, the El Sol Resort sold 4,000 rooms at an average room rate of $80. During the next 30-day period, the price was increased to $90, and 3,500 rooms were sold. What is the price elasticity of demand for the resort's rooms?

0.10
0.13
1.00
1.29

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