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Calculate the profit maximizing price in market

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The elasticity of sweaters for pet duck-billed platypus is -1.56 in the Canada. In Australia, the elasticity of these sweaters is -3.62. However, Canadian sweaters have to be warmer, so the marginal cost is $20, while it's only $15 for the Australian sweaters. Calculate the profit maximizing price in each market.

Reference no: EM131166940

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