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Describe whether demand is price elastic or price inelastic

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Reference no: EM131580873

Question: Suppose that when Winged Demons Athletic Shoes offers a 15 percent discount on its latest model of shoe, it finds that it sells 20 percent more of them. Calculate the price elasticity of demand for these shoes. Describe whether demand is price elastic or price inelastic, and describe what happens to the company's revenues after it offers the discount.

Reference no: EM131580873

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