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QUESTION
Price q Elasticity of Demand is equal to = 2 at every point along this demand curve. Suppose that C (q) = 10q + 3,500,000 (for which MC (q) = 10 ).
. Price q Elasticity of Demand is equal to = 2 at every point along this demand curve. A. Suppose that C (q) = 10q + 3,500,000 (for which MC (q) = 10 ). Use the Inverse Elasticity Pricing Rule in order to determine the profit maximizing price and level of output for this firm. Is this firm able to earn a positive profit?
