What is the price elasticity of demand

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Reference no: EM131102177

Suppose Mr Masaki operates a newspaper stand in japan. He sells the Japan Times and English newspaper published in Japan, at the same price as all other newspaper stands do.

a) What is the price elasticity of demand for the Japan Times sold by Mr Masaki

b) If we look at the whole market for the Japan Times, will the price elasticity of demand remain the same as your answer from a?

Reference no: EM131102177

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