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new number-old number X 100 PERCENTAGE CHANGE average Revenue Price X Quantity Use the formula above to calculate values of price elasticity of demand for

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new number-old number X 100 PERCENTAGE CHANGE average Revenue Price X Quantity Use the formula above to calculate values of price elasticity of demand for all the situations below. Make sure to show your calculations. Price Quantity change in Revenue % change in Elasticity Initia quantity price of Demand Initial New New Initial New demanded 30 35 90 30

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