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Predict the new quantity per week and total revenue per week

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Reference no: EM13331235

Suppose the price elasticity of demand for vanity plates in your state is 0.60. The initial price is $20 and the initial quantity is 1,000 plates per week. Suppose the state increases the prices by 10%. Predict the new quantity per week and total revenue per week.

Reference no: EM13331235

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