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If the monopolist faces the demand curve given by P=10-2Q, what is the quantity intercept value? A)5 B)20 C)10 D)15 Suppose a monopolist faces two
If the monopolist faces the demand curve given by P=10-2Q, what is the quantity intercept value?
A)5
B)20
C)10
D)15
Suppose a monopolist faces two groups of consumers. Group 1 has a demand given by P1=50-2Q1and MR1=50-4Q1. Group 2 has a demand given by P2=40-Q2and MR2=40-2Q2. The monopolist faces MC=AVC=ATC=$10 regardless of which group he supplies to. We can infer from the demand equations that Group ___ is the inelastic group because the demand is ____ than that of the other group.
A)1; flatter
B)1; steeper
C)2; steeper
D)2; flatter
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