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clear handwriting please Question 3 Bunter was asked the following: A Soma producing monopolist faces an inverse demand curve 13 = 100 2q. The cost

clear handwriting please

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Question 3 Bunter was asked the following: A Soma producing monopolist faces an inverse demand curve 13 = 100 2q. The cost it incurs to produce (1 units of Soma is 2q2. Use the markup formula to determine its prot maximizing price. Here is his solution: The elasticit of demand is 23 . The seller has a constant marginal cost of $2 a y 100 2p unit. The markup formula says that p 2 100 2p 7 = T => 39 2 = 50 p => p = 26 Is Bunter's solution correct? If not, what is the correct solution and what are the mistakes that Bunter has made

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