question archive A rise in the price of a certain commodity from $20 to $25 reduces quantity demanded from 25,000 to 10,000 units
A rise in the price of a certain commodity from $20 to $25 reduces quantity demanded from 25,000 to 10,000 units
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A rise in the price of a certain commodity from $20 to $25 reduces quantity demanded from 25,000 to 10,000 units. Calculate the price elasticity of demand using the mid-point approach.
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