The demand and revenue data for the second group of buyers is shown in the accompanying table.
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The demand and revenue data for the second group of buyers is shown in the accompanying table.
Assume that MC is $13 in both markets and MC ATC at all output levels. What price will the firm charge in each market? Based solely on these two prices, what can you conclude about the relative elasticities of demand in the two markets?
What will be this monopolist’s total economic profit?
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