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25-05-2023
Business

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The figure shows the demand for DVD rentals. 3 2 1 D L L 0 25 50 75 100 125 150 DVD rentals per day a. Calculate the elasticity of demand when the price of a DVD rental rises from $3 to $5. b. At what price is the elasticity of demand for DVD rentals equal to 1? Price (dollars per DVD)

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