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Explain your reasons 1.If demand is elastic, the difference between the monopolistic price and the competitive market price would be greater compared to when the

Explain your reasons

1.If demand is elastic, the difference between the monopolistic price and the competitive market price would be greater compared to when the elasticity is low.

2. In 2011, heavy rain and cold weather destroyed 10 percent of the world coffee products. Therefore, it is expected that people consume less coffee.

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