Find the coefficient of price elasticity of demand


Sam sells shavers and Alvin sells after shave. Suppose Sam discovers a new production technique that lowers his costs of production, shifting the supply curve for shavers to the right. This causes the equilibrium price of shavers to fall from $30 to $22 and the equilibrium quantity to increase from 40 to 50 shavers. What is the coefficient of price elasticity of demand (Ed) for shavers.

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Microeconomics: Find the coefficient of price elasticity of demand
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