Asked by Kim

An october 24, 1996 article in the washington post dicussses the completion of a new private toll road between leesburg and washington dulles international airport. It states that daily revenue from tolls increased from $14000 to 22000 when the price to of the toll decreased from $1.75 to $1.00. What is the price elasticity of demand for the toll road? show calculations.

Again, elasticity is percentage change in Q divided by percentage change in P.
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