Question
You are the manager of a monopoly that sells a product to two groups of consumers in different parts of the country. Group 1's elasticity
You are the manager of a monopoly that sells a product to two groups of consumers in different parts of the country. Group 1's elasticity of demand is -6, while group 2's is -3. Your marginal cost of producing the product is $70.
what is the markup for group 1?
what is the Price for group 1? $
what is the Markup for group 2?
what is the Price for group 2? $
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Managerial Economics and Business Strategy
Authors: Michael R. baye
7th Edition
978-0073375960, 71267441, 73375969, 978-0071267441
