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#queA monopolist has a constant marginal and average cost of $10 and faces a demand curve Of Qd = 1000-10P. Marginal revenue is given by MR= 1000-1/5Q. stion..
The price elasticity of demand is how economists calculate the responsiveness of consumers to alters in prices for a commodity. In other words, as price enhances (reduces), the qu
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"Take a monopolist with a constant average cost. The higher is the elasticity of demand at the chosen monopoly price, the higher is the monopolist's profit-to-revenue ratio." Expla
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