Manny’s merchandising can custom print logos onto coffee mugs. it sells it most popular style for $10 and has a marginal cost, including a blank mug and the printing, of $6. manny recently undertook a study of the mug market and determined that the price elasticity of demand elasticity is -5. should manny raise or lower price?

Trade will take place: a. if the maximum that a consumer is willing and able to pay is less than the minimum price the producer is willing and able to accept for a good. b. if the maximum that a consumer is willing and able to pay is greater than the minimum price the producer is willing and able to accept for a good. c. only if the maximum that a consumer is willing and able to pay is equal to the minimum price the producer is willing and able to accept for a good. d. none of the above.