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Part 1 01 2 Suppose a monopoly's price elasticity of demand equals -5 and the marginal cost of production equals $500.00 The profit-maximizing price is

Part 1 01 2 Suppose a monopoly's price elasticity of demand equals -5 and the marginal cost of production equals $500.00 The profit-maximizing price is $ (Enter a numeric response using a real number rounded to two decimal places.)

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