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2. Roses, Chocolate, and Revenue Increases? Discuss the following questions with your peers: On Valentine's Day, people want to buy more roses and chocolates. The
2. Roses, Chocolate, and Revenue Increases? Discuss the following questions with your peers: On Valentine's Day, people want to buy more roses and chocolates. The price of fresh-cut roses increases significantly during that time, while the price of chocolate does not change that much. What does it imply about the relative price elasticity of supply between fresh cut roses and chocolates? Is it always a good idea for a business to increase their prices to increase their revenue? Why or why not
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