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Price elasticity of demand

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When the price of a steak is $20, the quantity supplied is 500 units per month; when the price is $10, the quantity supplied is 250 units per month. What is the price elasticity of supply?

When the price of a DVD $15, the quantity demanded is 300 units per month; when the price is $20, the quantity demanded is 240 units per month. The price elasticity of demand is what?

Reference no: EM131447792

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