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Assume that a researcher estimates that the price elasticity of demand for national park entrance fee is 0.85. If the national park wishes to increase
Assume that a researcher estimates that the price elasticity of demand for national park entrance fee is 0.85. If the national park wishes to increase the revenue from the entrance fee, should the national park raise the fee, lower it , or keep it the same? Group of answer choices The rantional park should raise the entrance fee. The national park should lower the entrance fee. The national park should keep the entrance fee the same
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