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Business, 11.04.2020 17:05 Boogates7427

A firm in the market for designer jeans has some degree of monopoly power. The demand curve it faces has a price elasticity of demand of -5, while the price elasticity demand of the market is -4. Moreover, the firm has a constant marginal cost of $65.00. Using the rule of thumb for pricing, calculate the firm's profit-maximizing price.

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A firm in the market for designer jeans has some degree of monopoly power. The demand curve it faces...
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