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Suppose that an unregulated electric utility is a government franchised,profit-maximizing monopoly. At the prevailing price of electricity,an empirical study indicates that the price elasticity of

Suppose that an unregulated electric utility is a government franchised,profit-maximizing monopoly. At the prevailing price of electricity,an empirical study indicates that the price elasticity of demand for electricity is -0.8. Something is wrong. What? Explain

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