If price of widgets increased from $50 to $52 and quantity demanded fell from 59 to 45,

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If price of widgets increased from $50 to $52 and quantity demanded fell from 59 to 45, calculate the price elasticity of demand. give an interpretation of this number.

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Intermediate Accounting

ISBN: 978-1119048541

11th Canadian edition Volume 2

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy

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Question Posted: Feb 28, 2017 11:49 AM

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If price of widgets increased from $50 to $52 and quantity demanded fell from 59 to 45,

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Price elasticity of demand shows responsiveness of percentage change in ...View the full answer

Intermediate Accounting

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