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You are given market data that says when the price of pizza is $11, the quantity demanded of pizza is 80 slices and the quantity
You are given market data that says when the price of pizza is $11, the quantity demanded of pizza is 80 slices and the quantity demanded of cheese bread is 100 pieces. When the price of pizza is $5, the quantity demanded of pizza is 100 slices and the quantity demanded of cheese bread is 150 pieces.
(a) Can the Price-Elasticity of Demand (PED) be calculated for either good? Why?
(b) If so, calculate the PED
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