A monopoly sells its good in the United States, where the elasticity of demand is -1.9, and in Japan, where the elasticity of demand is -5.1. Its marginal cost is $7. At what price does the monopoly sell its good in each country if resales are impossible? The price in the United States is $. (Round your answer to the nearest penny.)
A monopoly sells its good in the United States, where the elasticity of demand is -1.9, and in Japan, where the elasticity of demand is -5.1. Its marginal cost is $7. At what price does the monopoly sell its good in each country if resales are impossible? The price in the United States is $. (Round your answer to the nearest penny.)
Chapter28: Antitrust And Regulation
Section: Chapter Questions
Problem 8E
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Hh.204.
![A monopoly sells its good in the United States, where the elasticity of demand is -1.9, and in Japan, where the elasticity of
demand is -5.1. Its marginal cost is $7. At what price does the monopoly sell its good in each country if resales
are impossible?
The price in the United States is $. (Round your answer to the nearest penny.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd4704128-405f-4318-b903-2637470bce9a%2F7ca718d5-4b28-40fd-994d-09e525b51519%2Fzvggm5c_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A monopoly sells its good in the United States, where the elasticity of demand is -1.9, and in Japan, where the elasticity of
demand is -5.1. Its marginal cost is $7. At what price does the monopoly sell its good in each country if resales
are impossible?
The price in the United States is $. (Round your answer to the nearest penny.)
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