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Your business partner finds a new way to organise the food production that decreases the cost and increases the number of serves per day. She
Your business partner finds a new way to organise the food production that decreases the cost and increases the number of serves per day. She believes this will enable the business to reduce the price of a serve of curry from $10 to $9. It is estimated that the price elasticity of demand for food truck cuisine is -1.8. What will happen to total revenue if the price of a curry per serve is decreased? What should you do?(3 Marks)
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