Crown Cinema recently increased the price of a movie ticket by 5%. As a result, attendance dropped by 8%. Based…

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Crown Cinema recently increased the price of a movie ticket by 5%. As a result, attendance dropped by 8%. Based…

Crown Cinema recently increased the price of a movie ticket by 5%. As a result, attendance dropped by 8%. Based on this information, what is the price elasticity of demand for movie tickets at Crown?

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