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Using the formula below, you are required to calculate the consumers price elasticity of demand when the Kerosene (home fuel heating oil) changes due to

Using the formula below, you are required to calculate the consumers price elasticity of demand when the Kerosene (home fuel heating oil) changes due to an increase in carbon tax imposed by the provincial government. AS 2 x P1 + P2 AP Q1 + Q2 nit ha Pri (CAD) Before the carbon tax increase 1,000 litres 800 After the carbon tax increase litres Changes: -250 litres +50

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