You are the manager of a mom and pop store that can buy


You are the manager of a Mom and Pop store that can buy milk from a supplier at $2.00 per gallon. If you believe the elasticity of demand for milk by customers at your store is -3, then your monopoly price is? What are the profits of the monopoly in equilibrium?

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Econometrics: You are the manager of a mom and pop store that can buy
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