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| 19.Suppose that a given MP3 player now costs $300, and sales are now 5,000 units per month. The manufacturer has determined that if the price is reduced by $25, the demand will increase by 250 units per month. Calculate and describe the elasticity of demand. A:A:-0.56, inelastic B:B:-10.0, elastic. C:C:-0.56, elastic |
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