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When the price of Good 1 changed from $30 per unit to $40 per unit, demand for Good 2 changed from 12,000 units to 10,000
When the price of Good 1 changed from $30 per unit to $40 per unit, demand for Good 2 changed from 12,000 units to 10,000 units. Calculate the appropriate elasticity. You will interpret your findings in the next question.
Enter only numbers, a decimal point, and/or a negative sign as needed. Round your answer to two decimal places as necessary; if you round on intermediate steps, use four places.
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