Nora a highly motivated entrepreneur plans on applying for, Financial Management

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Nora a highly motivated entrepreneur plans on applying for

Nora, a highly motivated entrepreneur plans on applying for a business loan from Bank of America. She finds out that the percent change in price of business loans increased to 7% last month. This resulted in a 50% percent change in quantity demanded from 1000 applicants to 500 applicants. What is the business loan’s price elasticity?

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