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Business, 16.04.2020 03:56 graceduke2005p6z8yp

We write the percentage markup of price over marginal cost as StartFraction Upper P minus MC Over Upper P EndFraction . For a profit-maximizing monopolist, how does this markup depend on the elasticity of demand? Why can this markup be viewed as a measure of monopoly power? Market power is the ability to charge a price above below equal to above marginal cost. For the profit-maximizing monopolist,

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