A consumer buys 40 units of a good... ...........buy 32 units?
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Answer:
price: 5 units:40
new price: new unit: 32
price elasticity of demand: -2
Ped = ∆q÷∆p*p÷q
2=8÷∆p*5÷40
2=∆p
new price =40+2
= 42
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