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iloveyofacexx3 iloveyofacexx3
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5 years 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)
Textbook 
Introduction to Agricultural Economics

Introduction to Agricultural Economics


Edition: 7th
Authors:
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#1
5 years 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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