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When the local used bookstore prices economics books at $15 each, it generally sells 70 books per month. If it lowers the price to $7,
When the local used bookstore prices economics books at $15 each, it generally sells 70 books per month. If it lowers the price to $7, sales increase to 90 books per month. Given this information, when we use the midpoint method, we know that the price elasticity of demand for economics books is about
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