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Question 7 (15 points) Consider the example from class with the Metropolitan Atlanta Rapid Transit Authority, which raised its basic fare from 60 to 75

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Question 7 (15 points) Consider the example from class with the Metropolitan Atlanta Rapid Transit Authority, which raised its basic fare from 60 to 75 cents per ride. If we nd that the fare change decreased revenues by 5%, what is the price elasticity of demand

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