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You are manager of a souvenir store in New York City that sells, among other things, post cards. You buy the post cards from

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Answer #1

Answer

option 3

The formula is:

P=MC/(1+(1/e))
P=price
MC=marginal cost
e= elasticity

Using formula and values

P=0.1/(1+(1/(-2)))

=0.2

=$0.2

the price is $0.2


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