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MBA, Ph.D in Management
Harvard university
Feb-1997 - Aug-2003
Professor
Strayer University
Jan-2007 - Present
You have a zrinko factory. You notice that when you drop the price from $45 to $40 (look at Figure 1 in handout) the quantity increase from 5 to 10 units.
What is the elasticity at this point?
Â
(enter this at + or - x.xxx carried to the thousandth place.
Use the arc price method (or midpoint)
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