Hire many more employee than were available on the island

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Q. After a hurricane did extensive damage to homes on the island of St. Crispin, homeowners wanted to purchase many more building materials and hire many more employee than were available on the island. As a result, prices for goods and services rose dramatically across the board.

Q. You are the manager of a monopoly that faces a straight line demand curve described by P = 230 - 20Q. Your costs are C = 5 + 30Q. The profit-maximizing price is?

Reference no: EM1351821

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