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wrote...
Posts: 148
2 months ago

Suppose that the own-price elasticity for yogurt is -0.6. Which of the following statement(s) is (are) true?



• Raise the price of yogurt in order to increase revenue in the short-run.

• Lower the price of yogurt in order to increase revenue in the short-run.

• The own-price elasticity of Dannon Yogurt is likely larger than -0.6 (in absolute value).

• Both Raise the price of yogurt in order to increase revenue in the short-run and The own-price elasticity of Dannon Yogurt is likely larger than -0.6 (in absolute value)
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Introduction to Agricultural Economics
Edition: 7th
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wrote...
2 months ago
Both Raise the price of yogurt in order to increase revenue in the short-run and The own-price elasticity of Dannon Yogurt is likely larger than -0.6 (in absolute value)
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