Question
If the price of the product goes up from $20 to $25 while the quantity demanded goes down from 800 to 600 units per month,
If the price of the product goes up from $20 to $25 while the quantity demanded goes down from 800 to 600 units per month, what is the price elasticity of demand (NOT using the midpoint formula)?
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The Macro Economy Today
Authors: Bradley R. Schiller, Karen Gebhardt
14th edition
1259291820, 978-1259291821
