What is the absolute value of the own price elasticity

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Reference no: EM13994738

If a price increase from $5 to $7 causes quantity demanded to fall from 150 to 100 and vice-versa, what is the absolute value of the own price elasticity at a price of $7? Note that the question is about the price point of $7, and not $5.

Reference no: EM13994738

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