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If Harry Doubleday's Price Elasticity of Demand Is -2,and Its

Question 5

Multiple Choice

If Harry Doubleday's price elasticity of demand is -2,and its profit-maximizing price is $6,then its:

A) average cost is $3.00.
B) average cost is $0.33.
C) marginal cost is $3.00.
D) marginal cost is $0.33.
E) average cost is $5.67.

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