What is the elasticity of demand for abdominoplasty

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When abdominoplasty costs were $6,000, Dr. Hurwitz treated 300 patients. When they dropped the price to $5,000, customers increased to 400.

What is the elasticity of demand for abdominoplasty using arc elasticity or the midpoints formula (rounded-off to 2 decimal places)?

a. - 1.38

b. - 1.57

c. - 0.157

d. cannot tell

e. none of the above

Reference no: EM13868597

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