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The accompanying table represents the price and yearly quantity sold of ice cream cones on Sidfield Island.
Price of Ice Cream Cones
Quantity of Ice Cream Cones Demanded
$1
3000
$2
2400
$3
1600
$4
800
a. Using the midpoint method (show your work), Determine the price elasticity of demand when the price of an ice cream cone increases from $1 to $2. What does this estimate imply about the price elasticity of require for ice cream cones?
Given the following table MUx MUx/Px Qty MUy MUy/Py 80 40 1 68 17 52 26 2 32 8 20 10 3 28 7 16 8 4 24 6 8 4 5 20 5
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discuss the central economic problem facing survivor group
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