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Use the demand curve diagram below to answer the following TWO questions. 1. What is the own-price elasticity of demand as price decreases from $8

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Use the demand curve diagram below to answer the following TWO questions. 1. What is the own-price elasticity of demand as price decreases from $8 per unit to $6 per unit? Use the mid-point formula in your calculation. a) Innity. b) 7.0 c) 2.0. d) 1.75

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