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Use the following information to answer questions 1 through 7 : When the local grocery store puts cereal on sale, reducing its price from $

Use the following information to answer questions 1 through 7:
When the local grocery store puts cereal on sale, reducing its price from $4.40 per item to $3.40 per item, the quantity sold increases from 220 per week to 230 per week.
This illustrates the elasticity of
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