You are the owner of a mom-and-pop store that buys milk from a supplier at a cost of $1 per gallon.If you estimate the elasticity of demand for milk sold at your store to be -3.5, what are your profit-maximizing markup and price?

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The Answer of You are the owner of a mom-and-pop store that buys milk from a supplier at a cost of $1 per gallon.If you estimate the elasticity of demand for milk sold at your store to be -3.5, what are your profit-maximizing markup and price?

You Are the Owner of a Mom-And-Pop Store That Buys