The price elasticity for the product of your company on the market is Ep = -0.8.
You are selling the product for $10 per unit.
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Expert's answer
2018-09-14T09:57:09-0400
The price elasticity for the product of your company on the market is Ep = -0.8. If you are selling the product for $10 per unit, then any change in price will cause the same change in quantity, but multiplied by 0.8.
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