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Business, 21.03.2020 07:25 06laurenelizabeth

Monopoly manufacturer faces two types of consumers. The first type has a relatively flat, linear demand curve. The second type has a relatively steep, linear demand curve. Suppose the monopolist can choose the price and quantity for each type that maximizes its profits. For the first type, it will set a relatively. For the second type, it will set a relatively

1. low price and high quantity
2. high price and low quantity
3. low price and low quantiyty
4. high price and high quantity

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