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Kevin O'Leary suggests that Jenn and Kelley decrease the price of their product by 50% and sell 10 times as many. That is, he predicts
Kevin O'Leary suggests that Jenn and Kelley decrease the price of their product by 50% and sell 10 times as many. That is, he predicts if they drop the price of their product from $50 to $25 they will increase their quantity demanded from 5,000 to 50,000. Calculate the price elasticity of demand for Purse cases using this information and using the midpoint method
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Macroeconomics
Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore, Ronald D. Kneebone
8th Canadian Edition
134646355, 9780134842615 , 978-0134646350
