Calculate the price of elasticity of demand for paint

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you are a painter, and the price of a gallon of paint increases from 3.00 a gallon to 3.50 a gallon. Your usage of paint drops from 35 gallons a month to 20 gallons a month, compute the price of elasticity of demand for paint and show your calculations. decide whether the demand for paint is elastic,unitary elastic, or inelastic. explain your reasoning and interpret your results

Reference no: EM1365249

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