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Tidy Tidy
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9 years ago
Jaycee Jeans sold 40 pairs of jeans at a price of $40. When it lowered its price to $20, the quantity sold increased to 60 pairs. Calculate the absolute value of the price elasticity of demand. Use the midpoint formula.
A) 1.67
B) 1.0
C) 0.6
D) 0.53
Textbook 
Essentials of Economics

Essentials of Economics


Edition: 4th
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Chimelo46Chimelo46
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