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Author Question: If a monopoly is operating on the demand curve where price elasticity is equal to -3, and MR equals ... (Read 32 times)

sammy

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on: Jul 1, 2018
If a monopoly is operating on the demand curve where price elasticity is equal to -3, and MR equals 2, then price is equal to
 
  A) 3.
  B) 2.
  C) 1.
  D) 0.

Question 2

Monopoly is characterized by
 
  A) unique products.
  B) market entry and exit are difficult or impossible.
  C) non-price competition not necessary.
  D) All of the above


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jordangronback

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

D


sammy

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Reply 2 on: Jul 1, 2018
Excellent

bimper21

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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