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Business, 21.09.2020 02:01 brennanjb00

Merck produces a widely-used statin called ZOCOR that treats high cholesterol. In 2015, they set the price at $30 per 30-day supply. The sold 500,000 units (30-day supplies) that year. In 2016, they experimented with lowering the price to $15 per 30-day supply. They sold 700,000 units that year. A. What is the elasticity of demand at the 2015 price?
B. What is the elasticity of demand at the 2016 price?

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Merck produces a widely-used statin called ZOCOR that treats high cholesterol. In 2015, they set the...
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