Ruth’s Rubies is a single-price monopolist in the market for rubies. Suppose Ruth’s Rubies currently charges $200 for its rubies (i.e. sells 3 rubies). If it lowers the price to $100 (to sell 4 rubies), how large is:    the quantity effect? the price effect?   Price of a Ruby Quantity of Rubies           Demanded Total Revenue Marginal Revenue    $500      0          400      1          300      2          200      3          100      4              0      5

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