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Gener8, Inc. sells a residential backup generator that runs on natural gas. The current price for the generator is $5000. Market research indicates that if
Gener8, Inc. sells a residential backup generator that runs on natural gas. The current price for the generator is $5000. Market research indicates that if the price rose to $7200, no customers would purchase the generator. Assuming that demand can be modeled with a linear demand curve, estimate the price elasticity of demand at $5000.
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