Calculate the exact elasticity of demand

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Use the formula in figure 4.7 to calculate the exact elasticity of demand in the following examples: Then tell if, in each case, demand is elastic, inelastic, or unitary elastic.

(a) When the price of a deluxe car wash rises from $10.00 to $11.00, the number of daily customers falls from 60 to 48</brclear="all">

Reference no: EM131037548

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