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The Mamas and the Papas, a monopolist, faces a constant marginal cost of $3 of producing cashews. If it believes the elasticity of demand for
- The Mamas and the Papas, a monopolist, faces a constant marginal cost of $3 of producing cashews. If it believes the elasticity of demand for cashews is -4, calculate the price it should charge for its product.
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Macroeconomics
Authors: Charles I. Jones
1st Edition
978-0393926385, 0393926389
