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Taiwo owns XYZ Hot Spot Chocolate store. The price for a kilogram of XYZ's chocolate is $30. Taiwo lowered his price per kilogram to $20

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Taiwo owns XYZ Hot Spot Chocolate store. The price for a kilogram of XYZ's chocolate is $30. Taiwo lowered his price per kilogram to $20 and found that this resulted in an increase in his total revenue. Explain why revenue increased using elasticity concepts

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