Unisa’s bookstore sold an average of 30 ties per day at R5 per tie but sold 50 o...
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Unisa’s bookstore sold an average of 30 ties per day at R5 per tie but sold 50 of the same ties per day at R3 per tie. What is the price elasticity of demand for ties in this price range? Use the formula for arc elasticity. (Ignore the negative sign and round off to 2 decimal places.)
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