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CENGAGE MINDTAP Search this course Chapter 05 Homework Supposethat during the past year, the price...

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Economics

CENGAGE MINDTAP Search this course Chapter 05 Homework Supposethat during the past year, the price of a virtual reality headsetrose from

$5,100

to

$5,550

. During the same time period, consumer sales decreased from467,000 to 360,000 headsets. Calculate the elasticity of demandbetween these two price-quantity combinations by using thefollowing steps. After each step, complete the relevant part of thetable with the appropriate answers. (Note: For decreases in priceor quantity, enter values in the Change column with a minus sign.)\table[[,Original,New,Average,Change,PercentageChange],[Quantity,

?

,

?

,,

?
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