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Choose one 1 pts A profit- maximizing monopolist faces a downward sloping demand curve that has a constant elasticity of -3. The firm finds it

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1 pts A profit- maximizing monopolist faces a downward sloping demand curve that has a constant elasticity of -3. The firm finds it optimal to charge a price of $12 for its output. What is its marginal cost at this level of output? O $5 O $16 O $24 O $8

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