Apple, the consumer electronics giant, on tuesday rolled out new versions of its popular ipod music player. ceo steve jobs also unveiled cheaper models of its touch music player, a touchscreen-only device. an 8-gigabyte version now costs $230, down from $300. a 32-gigabyte model costs $400, down from $500. calculate the price elasticity of demand for a 32 gigabyte touch player if the quantity demanded increases from 850,000 to 950,000 the month after the price decrease.
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