Your firm's research department has estimated the elasticity of demand for toys to be -0.6. As the manager of a local chain of toy stores, determine the impact of a 10 percent increase in toy...

Your firm's research department has estimated the elasticity of demand for toys to be -0.6. As the manager of a local chain of toy stores, determine the impact of a 10 percent increase in toy prices on your total revenues. 

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