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Suppose the price for ride is initially $25, but then falls to $20...
Suppose the price for ride is initially $25, but then falls to $20 due to a recession. What is the price elascity of demand for taxi rides? Using the midpoint formula, the price elasti city of demand is?
Answer & Explanation
Solved by verified expertAnswered by ProfessorIce10914 on coursehero.com
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