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Economics

During a specific period of time, the average price of long-distance calls fell from $0.25 per minute to $0.15. As a result of the drop in price, average long-distance calling per person per month increased from 300 minutes to 400 minutes. Using the midpoint method, calculate (show your work) the price elasticity of demand for long-distance call.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91827538

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