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What is the price elasticity of demand for pair of glasses

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Reference no: EM133186128

Question - A boutique sells a pair of women's glasses for $180. During sales, this pair of glasses is sold for $149. Normally, the shop sells 12 pairs of glasses per week. The first week of the sales, this shop sells 14.

Required -

What is the price elasticity of demand for this pair of glasses?

How do you interpret this coefficient of elasticity?

Reference no: EM133186128

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