What is the value price elasticity of demand

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In a local market, the monthly price of internet access decreases from $40 to $30, and the total quantity of monthly accounts across all internet access provider's increases from 140,000 to 240,000.

What is the value price elasticity of demand, disregarding the negative sign? _________ (round your answer to two decimal places)

The demand is elastic / inelastic? _________________

Reference no: EM13178802

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