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10. Answer the following questions by appealing to the inverse elasticity pricing rule (IEPR). Do the questions first for a standard profit-maximizing firm (in a
10. Answer the following questions by appealing to the inverse elasticity pricing rule (IEPR). Do the questions first for a standard profit-maximizing firm (in a one-sided market). Then do the questions again for a profit-maximizing platform (in a two-sided market). a. Can the firm operate on the inelastic portion of its demand curve (for one side of the market)? If not, explain why not. If so, under what conditions? b. Regulators regard setting P
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