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Zumba Classes Sell 20 Participant Spots at a Price of $4.50

question 136

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Zumba classes sell 20 participant spots at a price of $4.50 each.When the instructor raised the prices to $5.50,10 people attended the class.From the midpoint method,the price elasticity of demand for Zumba is

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Definitions:

Auditing

The process of examining and verifying a company's financial records to ensure accuracy and compliance with laws and regulations.

SUMIF Function

A function in spreadsheet software that sums the values in a range that meet specified criteria.

Criteria

The standards or conditions that are used to judge or make a decision about something.

Range

In computing, it often refers to a selection of cells in spreadsheets or a series of values in programming.

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