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What is the advice to her what supposition have you made

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Your younger sister needs $500 to buy a new bike. She has opened a lemonade stand to make the money she needs. She is currently charging $1.00 per cup, but wants to adjust her price to earn the money faster. What is your advice to her? What assumption have you made about the price elasticity of demand in this market?

Reference no: EM13393593

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