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Suppose we were looking at the demand of Shoes at one of shops at salalah market. We found that, when they had a Price R.O
Suppose we were looking at the demand of Shoes at one of shops at salalah market. We found that, when they had a Price R.O 6.7 they Sell 125 shoes weekly. But when shop manager decided to raise the Price to R.O. 10.5, He found that, the demand for shoes dropped to 90 shoes weekly.
- Calculate the elasticity of demand for shoes.
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