Question: Kevin O'Leary suggests that Jenn and Kelley decrease the price of their product by50% and sell 10 times as many. That is, he predicts if

Kevin O'Leary suggests that Jenn and Kelley decrease the price of their product by50% and sell 10 times as many. That is, he predicts if they drop the price of their productfrom $40 to $20 they will increase their quantity demanded from 6,000 to 60,000.Calculate the price elasticity of demand for Purse cases using this information.

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