What is profit maximizing quantity and price for media cable

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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: EM13187082

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What is profit maximizing quantity and price for media cable : 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 lo..

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