Which monopoly would be likely to see total revenue decrease

Reference no: EM132178116

Question: Suppose that De Beers and the local water utility are both monopolists, in the markets for diamond jewelry and water, respectively. If both monopolies decided to raise prices 15 percent, which monopoly would be more likely to see its total revenue decrease? Why? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132178116

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