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The manager of a local monopoly estimates that the elasticity of demand for its product is constant and equal to -4. The firms marginal cost
The manager of a local monopoly estimates that the elasticity of demand for its product is constant and equal to -4. The firms marginal cost is constant at $10 per unit. a. Express the firms marginal revenue as a function of its price. Instruction: Round your response to 2 decimal places. MR = ________?_______x P
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