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Suppose the price of good X decreases from $1.45 to $1.25 and, as a result, the quantity demanded increases from 2,000 to 2.200. The

Suppose the price of good X decreases from $1.45 to $1.25 and, as a result, the quantity demanded increases from 2,000 to 2.200. The price elasticity of demand for good Xis a. 2.00. b. 1.55. c. 1.00. d. 0.64.

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