Find what is the mark-up and what is the marginal cost

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Reference no: EM13238441

The price of a good to be sold by a Monopoly is $0.50. The market has an elasticity of demand (n) of 5.

a. What is the mark-up and what is the Marginal cost?
b. What would this look like for a perfectly competitive market? What would the elasticity of demand (n) be for the perfectly competitive market?

Reference no: EM13238441

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