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If the Market Demand Elasticity Is Constant at -3 and a Monopolist's

Question 13

Multiple Choice

If the market demand elasticity is constant at -3 and a monopolist's MPL = 1.2L^-0.5,then the labor demand for the monopoly is

A) 0.8PL^-0.5.
B) 0.4PL^-0.5.
C) 0.8PL^-2.
D) 0.4PL^-2.

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