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Suppose the own price elasticity of market demand for retail gasoline is -0.8, the Rothschild index is 0.5, and a typical gasoline retailer enjoys sales of $1,500,000 annually. What is the price elasticity of demand for a representative gasoline retailer's product?
Instruction: Please show your work and Round your answer to 2 decimal places.
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Incorporate appropriate animations, transitions, and graphics as well as "speaker notes" for each slide. The speaker notes may be comprised of brief paragraphs or bulleted lists.
Please include documentation of all SEVEN steps in your submission of your MAP assingment.
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