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Hi I hope you are doing great. I have a question. I need some help with it. It is over microeconomics. It has many parts.
Hi I hope you are doing great. I have a question. I need some help with it. It is over microeconomics. It has many parts. I am confused and I need help with it. I hope you can help me. Thank you.
Monopoly - End of Chapter Problem A monopolist knows that in order to expand the quantity of output it produces from 8 to 9 units, it must lower the price of its output from $2 to $1. a. Calculate the quantity effect and the price effect. Quantity effect: $ Price effect: $ b. Use these results to calculate the monopolist's marginal revenue of producing the 9th unit. MR 9th unit : $ c. The marginal cost of producing the ninth unit is positive. Should the monopolist produce the 9th unit? Yes O No O) Whether or not it is a good idea to produce the 9th unit depends how high or low the marginal cost isStep by Step Solution
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