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A company currently sells 60,000 units a month at $10 per unit. The marginal cost per unit is $6. The company is considering raising the price by 10% to $11. If the price elasticity of demand is _______________ in that price range, then profit would increase if the company decided to raise the price by 10%.
a. equal to - 3
b. greater than + 1
c. less than - 2.5
d. greater than or equal to - 2

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