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Express the firm marginal revenue

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Can you please give me a step by step solution to this problem?

The manager of a local monopoly estimates that the elasticity of demand for its product is constant and equal to -3. The firm's marginal cost is constant at $30 per unit.

a. Express the firm's marginal revenue as a function of its price.

MR =   × P

Reference no: EM132100545

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