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nakungth nakungth
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6 years ago
Homer's boat manufacturing has a monopoly on boat sales in the region.  Homer's marginal cost of the 8th boat produced is $1,200.  He produces only eight boats and can sell all eight boats for $1,500.  The elasticity of demand at this price is -2.  Is Homer maximizing profits?
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Microeconomics

Microeconomics


Edition: 8th
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CanihCanih
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nakungth Author
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5 years ago
Thank you!
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2 years ago
Thank you
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