Suppose that Cheddars is currently selling 500 Chicken and Oriental salads for $5. Suppose that the own-price elasticity for this product is -0.8. If Cheddars wishes to lower the price to $4, you predict that, all other factors held constant, the number of Chicken and Oriental salads sold at this price will be
A) 580.
B) 600.
C) 420.
D) Can't tell; insufficient information.
A) 580
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