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The demand Curve and Marginal curve for red herrings are given as follows: Q= 250 - 5PMR= 50 - 0.4Q 21) At the profit-maximizing level

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The demand Curve and Marginal curve for red herrings are given as follows: Q= 250 - 5PMR= 50 - 0.4Q

image text in transcribed
21) At the profit-maximizing level of output, demand is (2pts) Inelastic, but not completely inelastic. Elastic, but not infinitely elastic. Infinitely elastic. Completely inelastic None of the above

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