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The next two questions refer to the following figure showing demand and marginal revenue for a monopoly. 5 35 30 25 20 Demand and marginal

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The next two questions refer to the following figure showing demand and marginal revenue for a monopoly. 5 35 30 25 20 Demand and marginal revenue (dollars) 15 10 D 100 207 300 400 500 Output MR 12-11 At any price above $ demand is elastic. 510 $15 520 zero

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