Reference no: EM13186407
experts predict prices of peanut butter will increase 30%
elasticity of deamnd for peanut butter is negative .6
elasticity of supply for peanu butter is .4
what will happen to equilibrium quantity od peanut butter traded in the market after the 30% increase in the price of peanut butter? stay the same, increase, decrease, or not enough information to tell?
what will be the expected change in the quantity of peanut butter traded in the market?
A 12, 18, or 80% decrease, or 75% increase
what will happen to the total revenue of US peanut butter producers?
stay the same, decrease, increase, or not enough information to tell?
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