Question: 3. Consider a monopolist. The demand it faces is Q=p , with a constant. a. what is the elasticity of demand? (5pts) b. If marginal

3. Consider a monopolist. The demand it faces is Q=p, with a constant.

a. what is the elasticity of demand? (5pts)

b. If marginal cost is $6 and the price elasticity of demand is -2, what is the profit-maximizing price? (5 pts)

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