John  owns the Latin Chocolate store. He charges $5 per pound for her hand made chocolate. You, the economist, have calculated the elasticity of demand for chocolate in her town to be 0.8. If he wants to increase his total revenue, what advice will you give him and why?  Be able to explain your answer.

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A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only first three…

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A: The answer is option (A).

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Q: f‌ ‌you‌ ‌decide‌ ‌to‌ ‌decrease‌ ‌the‌ ‌price‌ ‌of‌ ‌the‌ ‌printers‌ ‌by‌ ‌5%,‌ ‌calculate‌ ‌your‌…

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Q: How can we increase the Total Revenue of products by using elasticity ? Explain them briefly.

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Q: You sell two different goods: printers and toner cartridges. The price elasticity of demand for the…

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Q: price elasticity of demand

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Q: How Does Elasticity Increase the Revenue in Small Businesses? Explain in detail .

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