The PED: Calculating the PED
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The aim of these questions is to look at the calculation of the price elasticity of demand.
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What type of good is the following, and how would you interpret the value ?; 
- Original Price (£) = 110
- Original Quantity = 75
- Final Price (£) = 125
- Final Quantity = 55
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(Type your answer to the previous question in the box below, then click on explain)
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