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QUESTION 14 Suppose the market for pineapples is price-taking An exceptionally good harvest that doubles the industry output will reduce the industry-wide revenue if: O

QUESTION 14 Suppose the market for pineapples is price-taking An exceptionally good harvest that doubles the industry output will reduce the industry-wide revenue if: O the demand for pineapples is inelastic. O the demand for pineapples is elastic. O None of the above - there is insufficient information to determine. O None of the above - a good harvest cannot reduce the industry revenue

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