Suppose the price of a bus ticket rises from $2.75 to $3 and the number of tickets

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Suppose the price of a bus ticket rises from $2.75 to $3 and the number of tickets sold falls from 10 000 to 8500, the price elasticity of demand is?

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Modern Principles of Economics

ISBN: 978-1429278393

3rd edition

Authors: Tyler Cowen, Alex Tabarrok

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Posted Date: Feb 23, 2024 02:42 AM

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Suppose the price of a bus ticket rises from $2.75 to $3 and the number of tickets

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To calculate the price elasticity of demand for the bus tickets we can use the following formula Pri... View the full answer

Modern Principles of Economics

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