Price elasticity of market demand for retail gasoline

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Reference no: EM13832801

Suppose the own price elasticity of market demand for retail gasoline is -0.6, the Rothschild index is 0.4, and a typical gasoline retailer enjoys sales of $1,800,000 annually. What is the price elasticity of demand for a representative gasoline retailer’s product?

Instruction: Round your answer to 2 decimal places.

Reference no: EM13832801

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