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Suppose that a new entry has decreased your demand elasticity from -2 to -3 (made demand more elastic) and that your price, before the new

Suppose that a new entry has decreased your demand elasticity from -2 to -3 (made demand more elastic) and that your price, before the new entry, was $30.

You should adjust your price to _________

due to the new entry and decreased demand elasticity.

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