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Having worked for many of the firms in the petroleum industry, you know that the price elasticity of demand for a representative firm is about −1.25. An industry publication recently reported that the Rothschild index for the petroleum industry is estimated to be 0.88. Based on this information, you know that the price elasticity of demand for the firm you currently work for in the petroleum industry is:

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91520303

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