Suppose demand is given by the equation: 
Using the midpoint method,what is the price elasticity of demand between $7 and $8?
Definitions:
Ledger
A Ledger is a book or collection of accounts in which account transactions are recorded, classified, and summarized.
Wages Expense
The total cost incurred by a company for paying its employees, including salaries, wages, and other forms of compensation.
Overpayment Error
A financial mistake where more money is paid out than is owed or necessary, leading to a discrepancy in accounts.
Cash
A form of liquid asset that includes currency, coins, bank deposits, and other mediums of exchange that can be used immediately for transactions.
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