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: If the price of an ice cream cone increases from $2.00 to $2.50 and the amount you buy falls from 50 to 45 cones,
- : If the price of an ice cream cone increases from $2.00 to $2.50 and the amount you buy falls from 50 to 45 cones, then your elasticity of demand would be calculated as:
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Business Mathematics In Canada
Authors: Ernest Jerome
7th edition
978-0071091411, 71091416, 978-0070009899
