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Assume a monopoly has the following demand schedule: Price $40, $35, $30, $25 Q 200, 300, 400, 500 For the change in price from $40
Assume a monopoly has the following demand schedule:
Price $40, $35, $30, $25
Q 200, 300, 400, 500
For the change in price from $40 to $35, the firm loses $________ in revenue from reducing the price on the 200 units it could have sold for $40. It also gains $_______ in revenue from selling 100 more units at $35.
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