Juanita maintains the only greenhouse in isolated Point Barrow, Alaska, and therefore has a monopoly on the

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Juanita maintains the only greenhouse in isolated Point Barrow, Alaska, and therefore has a monopoly on the sale of fresh flowers. Her hired-gun statistician estimates that the elasticity of demand for her flowers is -0.5. Explain intuitively how you know that Juanita cannot be maximizing profits.
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Microeconomics

ISBN: 978-1464187025

2nd edition

Authors: Austan Goolsbee, Steven Levitt, Chad Syverson

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