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1.2 Ashlee runs the only seltzer delivery service in Boone and so sets her price as a monopolist. Last year, her teams discovered a new

1.2 Ashlee runs the only seltzer delivery service in Boone and so sets her price as a monopolist. Last year, her teams discovered a new process for producing the seltzer which lowers her cost of production. (Demand is unchanged.) In response, Ashlee lowered the price of her seltzer, which implies that she is not profit-maximizing

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