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Suppose that a monopolist with constant marginal cost serves two markets. Market I has demand elasticity = - at all price and quantity combinations. Market 2 has demand elasticity E, =-4 at all price

Suppose that a monopolist with constant marginal cost serves two markets. Market I has demand elasticity = - at all price and quantity combinations. Market 2 has demand elasticity E, =-4 at all price and quantity combinations. The monopolist's profit-maximizing uniform price is p = 5, and it sells 141 = 500 and qe = 500 units in Markets 1 and 2, respectively, at this price. What would the price be under perfect competition?

Apr 10 2021 View more View Less

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