what is the Ep

In the regional market for housing, demand for single detached homes depends on the price oi the house, PH, consumer income, N, and the price of a related good, townhouses, PT. The demand equation is 0d = 0.2M + 0.04PT 0.01PH_ Initially, average consumer income is N = $40,000 and the average price of townhouses is $310,000. Making these substitutions, we get 0:1 = 20,400 0.01PH. This is our current demand equation. What is the price elasticity oi demand when the price of housing changes from $250,000 to $290,000? 0 Click the icon to View the derivation of the current demand equation. The price elasticity of demand when the price of housing changes from $250,000 to $290,000 is ED = . This is : (Round to two decimal places as needed.)