True or False: Suppose you are advising the Egg Farmers of Canada on changes in the egg market. Suppose the current price is $3.00 per dozen eggs and the quantity demanded is 2.5 million dozens of egg per day. Suppose price elasticity of demand is constant at 0.8. You are considering reducing the supply, so that the price rises to $3.5 per dozen. Total expenditure on eggs by consumers will rise. Explain your answer carefully

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Q: What is supplied

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Q: 2

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