The manager of a local monopoly eslimales that lhe elasticily of demand for its product is constanl and equal to - 3. Thefmn's marginal cost is conslam at $20 per unita. Express the firm's marginal revenue as a function of its price. b. Determine lhe prom-maximizing price.
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Home » Business » The manager of a local monopoly eslimales that lhe elasticily of demand for its product is constanl and equal to - 3. Thefmn's marginal cost is conslam at $20 per unita. Express the firm's marginal revenue as a function of its price. b.