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When Amazon purchased the Whole Foods grocery chain in 2017, it cut prices. But two years later, Amazon changed its strategy and began to raise

When Amazon purchased the Whole Foods grocery chain in 2017, it cut prices. But two years later, Amazon changed its strategy and began to raise prices.

In 2017, what did Amazon likely believe was true about the price elasticity of demand for groceries purchased at Whole Foods? Why might Amazon have changed that view by 2019?

Please be concise and on point.

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