When the price of CDs increase from $20-$22 the quantity demanded decrease from 120 to 100 units using the initial value approach, the absolute value price elasticity of demand is
Added by Ana H.
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- Initial price (P1) = $20 - Final price (P2) = $22 - Initial quantity demanded (Q1) = 120 units - Final quantity demanded (Q2) = 100 units Show more…
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