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Write the equation for price elasticity

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Price elasticity: Write the equation for Price Elasticity

A bus traveling on the HOT lane currently charges $1.50 and has 100,000 riders per day. The transit agency is planning to raise fares to $2.00 and knows that the price elasticity for the bus is -0.21. What is the expected change in ridership demand with the increase in fare?

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Reference no: EM131106370

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