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b. Based on your answer to part a, how much in percentage terms would total revenue change if you were to RAISE the price by

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b. Based on your answer to part a, how much in percentage terms would total revenue change if you were to RAISE the price by 1 percent? You should be able to give me a number. [6 points) 3.c. What is the income elasticity for Green Hornet? Is it a normal or inferior good? Explain your answer. [8 points]

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