Define price elasticity of demand. If 46,000 units of a good can be sold at a price

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Define price elasticity of demand. If 46,000 units of a good can be sold at a price of $22, but 54,000 units can be sold at a price of $18, is the demand for the good elastic or inelastic? What is the elasticity coefficient?
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Basic Economics

ISBN: 978-1111826642

16th edition

Authors: Frank V. Mastrianna

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