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Suppose the price elasticity of demand for fishing lures equals1.5 in South Carolina and 0.63 in Alabama. To increase revenue,fishing lure manufacturers should: a lower
Suppose the price elasticity of demand for fishing lures equals1.5 in South Carolina and 0.63 in Alabama. To increase revenue,fishing lure manufacturers should:
a | lower prices in South Carolina and raise prices in Alabama. |
b | raise prices in each state. |
c | lower prices in each state. |
d | leave prices unchanged in South Carolina and raise prices inAlabama. |
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