Multiple Choice
Suppose the price elasticity of demand for fishing lures equals 1.5 in South Carolina and 0.63 in Alabama.To increase revenue,fishing lure manufacturers should:
A) lower prices in each state.
B) raise prices in each state.
C) lower prices in South Carolina and raise prices in Alabama.
D) leave prices unchanged in South Carolina and raise prices in Alabama.
Correct Answer:
Verified
Correct Answer:
Verified
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