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Suppose a local bank increases the fees they charge for their bank accounts by 20 percent. In response, the demand for their bank accounts decreases

Suppose a local bank increases the fees they charge for their bank accounts by 20 percent. In response, the demand for their bank accounts decreases from 10000 to 5000 . What is price elasticity of demand for this bank's accounts?

Using the midpoint formula, the price elasticity of demand is

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