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Homework answers / question archive / When price is $5 per unit, quantity demanded is 12 units
When price is $5 per unit, quantity demanded is 12 units. When price is $6 per unit, quantity demanded is 8 units. The value of the absolute price elasticity of demand is approximately
a) 0.36
b) 4.00
c) 2.20
d) 1.82
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