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Formula to derive the elasticity

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Reference no: EM13197681

The tire shop sells 50 tires a day at $75. After they raise the price on tires to $85, they now sell 46 tires a day.

What is the elasticity of tires at the tire shop? 
A) Inelastic 
B) Elastic 
C) Unit Elastic 
D) Perfectly Inelastic 
E) Perfectly Elastic 

Reference no: EM13197681

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