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Homework answers / question archive / Suppose the price of an air ticket to Honolulu decreased from $125 to $100

Suppose the price of an air ticket to Honolulu decreased from $125 to $100

Economics

Suppose the price of an air ticket to Honolulu decreased from $125 to $100. Then, the quantity demanded increased from 450 per day to 500 per day. What is the price elasticity of demand?

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