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Suppose the price of rice increases from $0.80 to $1.00 a gram and the quantity demanded decreases from 100 grams to 95 grams. Using the

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Suppose the price of rice increases from $0.80 to $1.00 a gram and the quantity demanded decreases from 100 grams to 95 grams. Using the midpoint method calculate the price elasticity of demand for nice. Is the demand for rice elastic or inelastic

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