What would be the elasticity coefficient
Problem
What would be the elasticity coefficient, if the demand for ice creams goes down from 20 to 12 with an increase in price from $4 to $10? Is the demand elastic or inelastic?
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What would be the elasticity coefficient, if the demand for ice creams goes down from 20 to 12 with an increase in price from $4 to $10?
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