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Smucker Price Elasticity Of Demand

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Smucker Price Elasticity Of Demand
2.The article reports that J.M. Smucker Co. plans to increase its coffee prices by 9 percent. If Smucker has a lot of rivals but has a brand name that has value, will this 9 percent increase in retail prices imply that profit will rise by 9 percent? From my understanding, there are two outcomes of price hikes: (1) individual product/good sells for higher price, which raises revenue, (2) the price elasticity of demand reveals to us what occurs completely to entire/total revenue: if demand for a product/good is elastic, a raised price lessens revenues; inelastic demand indicates that the revenue will rise with a increase in price; if the demand is indeed elastic then the revenue stays constant with heightened price. Thus, it all relies on the
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