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Liula [17]
2 years ago
10

If own price elasticity of demand for your market is -1.2, and your marginal cost is flat at 10, what is the optimal price for y

our monopoly firm
Business
1 answer:
scZoUnD [109]2 years ago
8 0

Answer: $60

Explanation:

The optimal price for a monopoly firm is expressed by;

Price = Marginal Cost * ( Own Price Elasticity/ (1 + Own Price Elasticity))

Price = 10 * ( -1.2 /( 1 - 1.2)

Price = 10 * (-1.2/-0.2)

Price = 10 * 6

Price = $60

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10 months ago
The smallest deed is better than the greatest intention meaning
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Here's my look on this saying:

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5 0
3 years ago
Some economists argue that competitive price-searcher markets are inefficient because
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Answer:

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