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Suppose that demand is perfectly inelastic at 40 million bags so that consumers demand 40 million bags no matter what the price is What price should you charge if you want the firm to earn only a

Suppose that demand is perfectly inelastic at 40 million bags, so that consumers demand 40 million bags no matter what the price is. What price should you charge if you want the firm to earn only a fair rate of return? Assume as always that TC includes a normal profit.

May 02 2020 View more View Less

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