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The EconoLodge in White Haven, PA, charged $50 for its guest rooms last month, and sold 1,000rooms. The general manager decided to raise prices to
The EconoLodge in White Haven, PA, charged $50 for its guest rooms last month, and sold 1,000rooms. The general manager decided to raise prices to $55 this month, and sold 900 rooms.The price elasticity of demand is:
a. 1.0
b. 1.33
C.0.66
d.Cannot be determined
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Payroll Accounting 20
Authors: Bernard J. Bieg, Judith A. Toland
26th Edition
1337268798, 9781337268790
