5 As in question 4, assume that Avivas jeans face an elasticity of demand of 2 with...
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5 As in question 4, assume that Aviva’s jeans face an elasticity of demand of 2 with constant costs, and assume also approximately half the total cost is accounted for by denim cloth, which is imported. To an approximation, what will this mean for your answers in question 4?
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