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7. Suppose that 200,000 Uber trips are taken every day in New York City and suppose that the elasticity of demand for an Uber trip is -0.5. If the price increased by \( 10 \% \) how many Uber trips would be taken in a day?

The price elasticity of demand at -0.5 means that the proportionate inverse change in the quantity demanded will be 0.5 t

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