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The demand for gym memberships in a small rural community is Q = 360 - 2P, where is the number of monthly members and P is the monthly membership rate. a. Calculate the price elasticity of demand for gym memberships when the price is $50 per month. b. Calculate the price elasticity of demand for gym memberships when the price is $100 per month. 0. Based on your answers to (a) and (b), what can you tell about the relationship between price and the price elasticity of demand along a linear demand curveStep by Step Solution
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