What is price elasticity of demand for this banks accounts

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Suppose a local bank increases the fees they charge for their bank accounts by 5 percent. In response, the demand for their bank accounts decreases from 35,000 to 5,000. What is price elasticity of demand for this bank's accounts?

Using the midpoint formula, the price elasticity of demand is _________. (Enter your response rounded to two decimal places.)

Reference no: EM131086039

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