Would the monopolist charge a higher price in market 1 or, Ask an Expert

Economics

A monopolist operates in two different markets: market 1 and market 2. Price elasticities of demand in market 1 and market2 are -5 and -2, respectively.

Would the monopolist charge a higher price in market 1 or in market 2? Why?

Assume the price charged in market 2 was $10, what would be the price charged in market 1?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9446788

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