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Consider a petrol kiosk which sells 5000 units of petrol @ $2/unit and sells 5500 units of petrol @ $1

Economics Feb 22, 2022

Consider a petrol kiosk which sells 5000 units of petrol @ $2/unit and sells 5500 units of petrol @ $1.9/unit.

Compute the price elasticity of demand using the mid-point formula.

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