Question: If price changes by 2.0%, and quantity demanded changes by 1.60% as a result, what is the price elasticity of demand? (use absolute value; calculate

If price changes by 2.0%, and quantity demanded changes by 1.60% as a result, what is the price elasticity of demand? (use absolute value; calculate to second decimal place) Convert to a decimal or simply remove the percentage sign before calculating, to avoid confusion interpreting the answer.

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