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| 7.Suppose the price of computers increases from $1,000 to $1,200. Assuming the original quantity demanded for computers was 50 million units, and the new quantity demanded is 45 million computers, what is the price elasticity of demand, and is the demand for computers elastic or inelastic? A:A:0.58, inelastic B:B:-1.73, elastic. C:C:-0.58, inelastic |
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