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Suppose that you are the owner of an ice-cream shop and that you have established that the price elasticity of the demand for ice-cream in

Suppose that you are the owner of an ice-cream shop and that you have established that the price

elasticity of the demand for ice-cream in your particular market is 1,8. Would you sell ice-cream at

R5 per litre or R4.5 per litre? Explain.

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