Compute the elasticity of demand when the price of a deluxe

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Compute the elasticity of demand when the price of a deluxe cheeseburger raises $2.50 to $3.00 which causes sales to fall from 175 deluxe cheeseburgers each day to 125 deluxe cheeseburgers each day. Is the demand elastic or inelastic? Is this good considered to be a luxury or a necessity?

Reference no: EM1353959

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