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Monopoly on formal gowns in the local market

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Trisha has a monopoly on formal gowns in the local market. She is currently charging $37.5 per gown and sells 20 in a month. The elasticity of demand is -3 at this price and output level. What must be Trisha's marginal cost of the last gown produced if she is maximizing profits?

Reference no: EM131743567

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