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Suppose that the current bus fare is $.75 and the government is considering raising it to $1. If this re- duces the number of trips

Suppose that the current bus fare is $.75 and the government is considering raising it to $1. If this re- duces the number of trips purchased from 10,000 to 8,000, what is the elasticity of demand for bus trips? Use the average formula. Show work

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