Multiple Choice
You are the manager of a Mom and Pop store that can buy milk from a supplier at $3.00 per gallon.If you believe the elasticity of demand for milk by customers at your store is −4,then your profit-maximizing price is:
A) $2.00.
B) $2.50.
C) $4.00.
D) $5.00.
Correct Answer:
Verified
Correct Answer:
Verified
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