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ch8q9 The manager of a local monopoly estimates that the elasticity of demand for its product is constant and equal to -2 . The firm's

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The manager of a local monopoly estimates that the elasticity of demand for its product is constant and equal to -2 . The firm's marginal cost is constant at $25 per unit. a. Express the firm's marginat revenue as a function of its price. Instructions: Enter your response rounded to two decimal places. MR= b. Determine the profit-maximizing price Instructions: Use the rounded value calculated above and round your response to two decimal places

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