Entities affected by industrial regulation in terms

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Reference no: EM1322812

Q. Homer's boat manufacturing has a monopoly on boat sales in the region. Homer's marginal cost of the 8th boat produced is $1200. He produces only eight boats also can sell all eight boats for $1500. The elasticity of demand at this price is -2. Is Homer maximizing profits?
Justify your answer numerically.

Q. Explain Elucidate how industrial regulation affects the marketplace.

Explain the entities affected by industrial regulation in terms of marketplace structure.

Explain why industrial regulation affects those entities you identified.

Reference no: EM1322812

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