At a price of $27.50 to play 18 holes on local golf courses, 1,200 consumers pay to

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At a price of $27.50 to play 18 holes on local golf courses, 1,200 consumers pay to play a game of golf each day. A rise in the price to $32.50 causes the number of consumers to decline to 800. What is the price elasticity of demand? Is demand elastic, unit-elastic, or inelastic?
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Economics Today

ISBN: 978-0132554619

16th edition

Authors: Roger LeRoy Miller

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