question archive A company named The Mad Hatter decides to increase the price of its hats from $28 to $38 per hat
A company named The Mad Hatter decides to increase the price of its hats from $28 to $38 per hat
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A company named The Mad Hatter decides to increase the price of its hats from $28 to $38 per hat. As a result of this change, the quantity demanded of hats drops from 153 to 108 hats. What is the price elasticity of demand for its hats?
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