The price elasticity of demand for gizmos is known to be 1.0 (disregarding the negative sign). If sellers of gizmos increase their prices, total revenue from gizmo sales will - they will not fall so what will they do?
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Home » Business » The price elasticity of demand for gizmos is known to be 1.0 (disregarding the negative sign). If sellers of gizmos increase their prices, total revenue from gizmo sales will - they will not fall so what will they do?