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Q. Q. Here is some data on the demand for marshmallows:
Price Quantity$10 100$ 8 300$ 6 700$ 4 1300$ 2 2200
(a.) Is demand elastic or inelastic in the $6-$8 price range? Elucidate how do you know?
(b.) If the table represents the demand faced by a monopoly firm, then Illustrate what is which firm's marginal revenue as it increases output from 1300 units to 2200 units? Elucidate how all work.
Now suppose the factory develops an innovation that allows it to produce a shirt for the equivalent of 1 loaf of bread. What is the new radius of the factory's market area.
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Growth rates in follower nations such as South Korea also Hong Kong averaged about 10 percent every year.
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