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you are the manager of a monopoly. a. If the marginal cost of your product is $100 and the price elasticity of demand for your

you are the manager of a monopoly.

a. If the marginal cost of your product is $100 and the price elasticity of demand for your product is 2,whar markup of price over marginal cost do you set?

b. If the price elasticity of demand is 3 rather than 2, what markup do you set?

c.Use your knowledge of factors that affect the magnitude of the price of demand to your answers to parts a and b

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