You Are the Manager of a Mom and Pop Store

question 92

Multiple Choice

You are the manager of a Mom and Pop store that can buy milk from a supplier at $3.00 per gallon.If you believe the elasticity of demand for milk by customers at your store is −4,then your profit-maximizing price is:

• A) $2.00.
• B) $2.50.
• C) $4.00.
• D) $5.00.

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