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0.8 x= 14-7
If p =10
0.8x = 14-10
Change in p of $3, results in change in x or quantity of 3.75 units
% change in price = 3/7 *100
% change in quantity = 3.75/8.75 *100
Hence the % change in p of 42.86% results in a change in demand of 42.86%
E(7) = 1
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