Price Quantity Demanded $5 385 $10 365 $15 345 $20 325 $25 305 $30 285 $35 265 $40 245   3. Suppose that the store increases the price of shoes from $25 to $30. Using the mid-point approach, calculate price elasticity of demanded. 4. Suppose that the store increases the price of shoes from $25 to $30. Based on this information, the demand curve would be classified as (select one): inelastic elastic unit elastic

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