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How large is the quantity effect

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Explain why a monopolist, such as Media Cable, faces a downward-sloping demand curve? Explain why the marginal revenue from an additional sale is less than the price of the service?

Suppose Media Cable currently charges $70 for its service. If it lowered the price to $40, how large is the price effect?

How large is the quantity effect?

What is the profit maximizing quantity and price for Media Cable?

Reference no: EM13338296

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