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A local cinema raises the price of a movie ticket from $5.00 to $6.00. Consequently, the number of tickets sold per screening drops from 100 to 70. Based on this information, what is the price elasticity of demand for these movie tickets?
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Introduction to Macroeconomics Course
Ch.1 The supply side of the macroeconomy: Unemployment and real wages - The Economy 2.0 Macroeconomics @ CORE Econ
The Economy 2.0 Macroeconomics @ CORE Econ
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A local cinema raises the price of a movie ticket from $5.00 to $6.00. Consequently, the number of tickets sold per screening drops from 100 to 70. Based on this information, what is the price elasticity of demand for these movie tickets?
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