Suppose a Profit Maximizing Monopolist Has Total Costs C(Y)= 10Y

question 60

Multiple Choice

Suppose a profit maximizing monopolist has total costs C(Y) = 10Y. The monopolist is charging a profit maximizing price or p = 15. If market demand has a constant price elasticity, then the price elasticity of demand must be equal to:

• A)1.
• B)3.
• C)3/2.
• D)2/3.

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