Suppose a monopolist was charging a price of $70 for its product and was selling 60 units. If it lowers its price to $69, the monopolist sells 61 units. What is the marginal revenue of that product?
Suppose a monopolist was charging a price of $70 for its product and was selling 60 units. If it lowers its price to $69, the monopolist sells 61 units. What is the marginal revenue of that product?
Chapter25: Monopoly
Section: Chapter Questions
Problem 14E
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