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A monopolist has determined that at the current level of output the price elasticity of demand is -0.15. Which of the following statements is true?
A monopolist has determined that at the current level of output the price elasticity of demand is -0.15. Which of the following statements is true? a. The firm should cut output. b. This is typical for a monopolist; output should not be altered. c. The firm should increase output. d. None of the above is necessarily correct
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Principles of Economics
Authors: N. Gregory Mankiw
8th edition
1305585127, 978-1305971493, 978-1337516860, 1337516864, 978-0357539200, 978-1305585126
