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Given the following characteristics for product A: Price elasticity = -0.7 Cross elasticity with product B = -0.85 Income elasticity = 0.6 Indicate whether the

Given the following characteristics for product A:

Price elasticity = -0.7

Cross elasticity with product B = -0.85

Income elasticity = 0.6

Indicate whether the following statement is true or false.

Reducing prices will increase the number of customers for product A and the revenue generated.

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