Suppose a profit-maximizing monopolist is producing 1100 units of output and is charging a price of $45.00 per unit. If the elasticity of demand for the product is - 3.00, find the marginal cost of the last unit produced.

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A: * SOLUTION :-  (1) Price (P) = $45 Quantity (Q) = 800 Elasticity of demand (Ed) = -2.50 According to…

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A: Demand Curve p = 210 - 4 q Marginal Cost, MC = 10

Q: profit maximizing price (P) for this monopoly

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A:

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A:

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Q: Suppose a profit-maximizing monopolist is producing 1100 units of output and is charging a price of…

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A: