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Hanson Corporation recently changed the selling price of one of its products. Data concerning sales for comparable periods before and after the price change are

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Hanson Corporation recently changed the selling price of one of its products. Data concerning sales for comparable periods before and after the price change are presented below. Selling Price $62.00 $63.00 Unit Sales 5,200 5,000 The product's price elasticity of demand as defined in the text is closest to: Multiple Choice O -2.45 -1.85 -1.65 -1.71

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