Question
In a monopoly type of market where price is $1,000, quantity is 10,000, and a lump-sum tax $5,000, price elasticity of demand (constant) is -2.5,
In a monopoly type of market where price is $1,000, quantity is 10,000, and a lump-sum tax $5,000, price elasticity of demand (constant) is -2.5, and MC is $600. What is the price with tax for this monopoly market?
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International Economics
Authors: Robert C. Feenstra, Alan M. Taylor
3rd edition
978-1429278515, 142927851X, 978-1319029517, 1319029515, 978-1429278447
