Calculate the price elasticity of demand

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Calculate the price elasticity of demand (using the midpoint method as the price of compact discs increases from 10$ to 13$,assuming that consumer's income is $40,000. Show your work.me is $40,000.Show your work. b.On the bases of your answer to part (a),is the demand for the good elastic,inelastic,or unit elastic? explain

Reference no: EM131169255

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Calculate the price elasticity of demand : Calculate the price elasticity of demand (using the midpoint method as the price of compact discs increases from 10$ to 13$,assuming that consumer's income is $40,000. Show your work.me is $40,000.Show your work. b.On the bases of your answer to part..

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