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Function: require_once
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Backtrace:
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Line: 367
Function: require_once
Related to? Application: Vanity Plates and the Elasticity Of DemandLOADING... Elasticity and Vanity Plates. Suppose the price elasticity of demand for vanity plates in your state is 1.40. The initial price is ?$40 and the initial quantity is 1000 plates per week. Suppose the state increases the price by 15 percent.