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Using the midpoint formula, calculate the price elasticity of demand for widgets when price increases from $7 to $8. Identify the coefficient as elastic, unit
Using the midpoint formula, calculate the price elasticity of demand for widgets when price increases from $7 to $8. Identify the coefficient as elastic, unit elastic, or inelastic.
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Econometric Analysis
Authors: William H. Greene
7th edition
131395386, 131395381, 978-0131395381
