Business, 17.02.2020 22:38, liddopiink1

Suppose the price of widgets rises from $5 to $7 and consumption of widgets falls from 25 widgets a month to 15 widgets. Calculate your price elasticity of demand of widgets. What can you say about your price elasticity of demand of widgets? Is it Elastic, Inelastic, or Unitary Elastic? Why? Please show your work.

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Suppose the price of widgets rises from $5 to $7 and consumption of widgets falls from 25 widgets a...