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1) Monopoly and Elasticity: Assume you are a consultant for Artemis, a company that has a monopoly on driving transformer costumes (see here for some

1)Monopoly and Elasticity: Assume you are a consultant for Artemis, a company that has a monopoly on driving transformer costumes (see here for some background: https://youtu.be/0EUXpLhOyNs).

The demand for driving transformer costumes is Qdemand = 3,500 - 100P

Artemis is currently charging $170 for its suits. Without knowing Artemis costs, would you consult Artemis to charge a higher or lower price? Why?

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