Based on the data presented in the table below estimate elasticity of demand for two price changes: a) price increase from $3 to $9 per hour; and b) price decrease from $9 to $3 per hour. Make sure to use the midpoint formula. Price Per Hour of Therapy Demand for Therapy 0 16 1 15 2 14 3 13 4 12 5 11 6 10 7 9 8 8 9 7 10 6 11 5 12 4 13 3 14 2 15 1 16 0
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Based on the data presented in the table below estimate
| Price Per Hour of Therapy | Demand for Therapy |
| 0 | 16 |
| 1 | 15 |
| 2 | 14 |
| 3 | 13 |
| 4 | 12 |
| 5 | 11 |
| 6 | 10 |
| 7 | 9 |
| 8 | 8 |
| 9 | 7 |
| 10 | 6 |
| 11 | 5 |
| 12 | 4 |
| 13 | 3 |
| 14 | 2 |
| 15 | 1 |
| 16 | 0 |
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