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Question: Consider the market a new DVD movie, where the price is initially $8 and 44 copies are sold per d...

Show transcribed image text Consider the market a new DVD movie, where the price is initially $8 and 44 copies are sold per day at a superstore, as indicate in the figure to the right. The superstore is considering lowering the price to $4 What is the price elasticity of demand between these two prices (use the Midpoint Formula)? The price elasticity of demand is (Enter your response as a real number rounded to two decimal places)

Consider the market a new DVD movie, where the price is initially $8 and 44 copies are sold per day at a superstore, as indicate in the figure to the right. The superstore is considering lowering the price to $4 What is the price elasticity of demand between these two prices (use the Midpoint Formula)? The price elasticity of demand is (Enter your response as a real number rounded to two decimal places)