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Suppose tSuppose that you raise the price of your product from $6 to $7. Quantity demanded falls from 200 to 120. Calculate the price elasticity

Suppose tSuppose that you raise the price of your product from $6 to $7. Quantity demanded falls from 200 to 120. Calculate the price elasticity of demand. SHOW YOUR WORK. (You must use the formula from class and not the midpoint formula.) hat you raise the price of your product from $6 to $7. Quantity demanded falls from 200 to 120. Calculate the price elasticity of demand. SHOW YOUR WORK. (You must use the formula from class and not the midpoint formula.)

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