A monopoly sells its good in the United States, where the elasticity of demand is -2.3, and in Japan, where the elasticity of demand is -5.5. Its marginal cost is $9. At what price does the monopoly sell its good in each country if resales are impossible? The price in the United States is $15.92 (Round your answer to the nearest penny.) The price in Japan is $ (Round your answer to the nearest penny)

A monopoly sells its good in the United States, where the elasticity of demand is -2.3, and in Japan, where the elasticity of demand is -5.5. Its marginal cost is $9. At what price does the monopoly sell its good in each country if resales are impossible? The price in the United States is $15.92 (Round your answer to the nearest penny.) The price in Japan is $ (Round your answer to the nearest penny)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Kk.363.

A monopoly sells its good in the United States, where the elasticity of demand is 2.3. and in Japan, where the
elasticity of demand is -5.5. Its marginal cost is $9. At what price does the monopoly sell its good in each country if
resales are impossible?
The price in the United States is $15.92 (Round your answer to the nearest penny.)
The price in Japan is $. (Round your answer to the nearest penny)

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