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Ilovebacon22 Ilovebacon22
wrote...
Posts: 453
5 years 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
Textbook 
Introduction to Agricultural Economics

Introduction to Agricultural Economics


Edition: 7th
Authors:
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zachcarytcriszachcarytcris
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Posts: 364
5 years ago
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Ilovebacon22 Author
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5 years ago
Smart ... Thanks!
yen
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Yesterday
this is exactly what I needed
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2 hours ago
Correct Slight Smile TY
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