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Next question 30 25 Consider the market for a new DVD movie, where the price is initially 522 and 16 copies are sold per day at a superstore, as indicated in the figure to the right The superstore is considering lowering the price to $18. 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.) Proin or copy 14 IND question 30 a 28 26 A B Price (dollars per copy) 24- 22- 20 18 16- 14 12- 10 8- 6 4 2 P O 4 8 12 16 20 24 28 32 36 40 44 48 52 56 60 Quantity (copies per day) Time Remaining: 00:48:50 Next