Therefore has monopoly on the sale of fresh flowers

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Juanita maintains the only greenhouse in isolated Point Barrow, Alaska, and therefore has a monopoly on the sale of fresh flowers. Her hired-gun statistician estimates that the elasticity of demand for her flowers is -0.5. Is Juanita maximizing her profits? How do you know this? If Juanita could improve her profits, should she raise or lower the price?

Reference no: EM131170867

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Therefore has monopoly on the sale of fresh flowers : Juanita maintains the only greenhouse in isolated Point Barrow, Alaska, and therefore has a monopoly on the sale of fresh flowers. Her hired-gun statistician estimates that the elasticity of demand for her flowers is -0.5. Is Juanita maximizing her p..

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