The owner of a newspaper-stand wants to raise prices to increase revenue. There are a number of other newspaper-stands nearby. Which of the following is likely to happen? Select the correct answer below: The owner's revenue will fall because newspaper demand is price elastic. The owner's revenue will fall because newspapers demand is price inelastic. The owner's revenue will rise because newspaper demand is price inelastic. The owner's revenue will rise because newspaper demand is price elastic.
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