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Calculate the elasticity of demand at its profit maximizing

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Reference no: EM13339887

The monopolist’s demand function is P = $405 - $5Q, its average cost function is AVC = $20+$0.5Q, and its fixed costs are $6,000 per hour. Calculate the monopolist’s profit maximization output, price and its hourly profit. Calculate the elasticity of demand at its profit maximizing output.

Reference no: EM13339887

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