Question
A monopoly sells its good in the United States, where the elasticity of demand is 2.1, and in Japan, where the elasticity of demand is
A monopoly sells its good in the United States, where the elasticity of demand is 2.1, and in Japan, where the elasticity of demand is 5.9. Its marginal cost is $8. At what price does the monopoly sell its good in each country if resales are impossible?
The price in the United States is $____ enter your response here.
(Round your answer to the nearest penny.)
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Macroeconomics
Authors: Glenn Hubbard, Anthony Patrick O'Brien, Matthew P Rafferty
1st Edition
978-0132109994, 0132109999
