MICRO ECONOMICS ELASTICITY EXERCISE $/BOTTLE BOTTLES/WK TOTAL REVENUE Ed $2.50 132 $ enter number. enter number $2.00 168 $enter number enter number $1.50 204 $enter number enter number $1.00 240 $ enter number. Imagine that you are a consultant hired by a California grape grower to analyze their wine sales. The Board of Directors dropped the price of their red table wine from $2.50/bottle to $2.00/bottle. Being the well trained economist that you are, would you advise your clients to continue to drop their price to $1/50/bottle? Why or Why not? Explain in detail using the economic concepts you have learned in this chapter. Click here to enter text