# Statistics

**Tutor description**

. Wayne and Garth are producers of bootleg recordings of 80's metal bands. The following table shows their supply schedules. . The price elasticity is the absolute value of the percentage change in quantity divided by the percentage change in price: Price Elasticity = | % Change in Quantity / % Change in Price | The graph below shows two known points (X and Y) on a demand curve for apples. What is the price elasticity of demand of apples between point X and point Y? X(9,3) Y(7,5)

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