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If a good is priced at ` 180 p.u. and its price is increased to ` 240 p.u. Now suppose quantity demanded previouslywas 100 units and as a result of price increase, the quantity demanded fell to 80 units. What is the price elasticity?(use Mid Point method)(a) .777(b) 1.4(c) 1(d) .8 ( With explanation ) pleasee |
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