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Home Q & A Board Other Fields Homework Help Business Economics
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Loraine Loraine
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9 years ago
Suppose the price of a ticket to a Lenny Kravitz concert is $41 and at that price, the quantity of tickets demanded is 17,000 per concert. Using the midpoint method of calculating percentage changes, if
Mr. Kravitz raises the price to $48 and the quantity demanded decreases to 16,000, the price elasticity of demand for his concert tickets is
A) 15.73.
B) 6.06.
C) 1.00.
D) 0.39.
E) 0.93.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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SmooothSmoooth
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9 years ago
My pleasure Happy Dummy
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4 years ago
thank you!
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3 years ago
thank you!
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