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wrote...
Posts: 144
2 months ago

If the own-price elasticity of demand is -1.25, in order for the manufacturer of Ragu to increase total revenue, at least in the short run, it would be advisable to



• Do nothing.

• Raise the price of Ragu.

• Lower the price of Ragu.

• Can't tell; insufficient information
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Introduction to Agricultural Economics
Edition: 7th
Authors:
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Posts: 164
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2 months ago
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Lower the price of Ragu.
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