Two points on given hypothetical demand curve

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Would you expect the price elasticity of demand for cars to be more price elastic or more price inelastic than the price elasticity of demand for 2015 model year Subaru Outbacks? Fully explain why.

Calculate the price elasticity of demand between two points on a given hypothetical demand curve. Point 1 will have a price that is $9.20 and a quantity of 156. Point 2 will have a price that is $9.40 and a quantity of 145. Show all components of the calculation in a very concise format.

Reference no: EM131107817

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