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Elasticity of demand for the daily newspaper

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Reference no: EM131089033

Suppose the Daily Newspaper estimates that if it raises the price of newspaper from $1.00 to $1.50 then the number of subscribers will fall from 50,000 to 40,000. Calculate the price elasticity of demand for the Daily Newspaper (using midpoint method). Comment on the type of elasticity you found.

Reference no: EM131089033

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