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Suppose that the elasticity of demand for parking at the RDU Airport's on-site parking garage is estimated to be 0.8. Approximately what percentage change in
Suppose that the elasticity of demand for parking at the RDU Airport's on-site parking garage is estimated to be 0.8. Approximately what percentage change in quantity sold would be caused by an increase in the daily rate from $18 to $22? A. 5%-10% increase in quantity B. 5%-10% decrease in quantity C. 10%-20% decrease in quantity D. 20%-25% decrease in quantity E. none of the other choices is correct
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