Answered

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Timberland, the boot company, is so popular that it has monopoly power. It's selling 20 million boots per year. The marginal cost of making extra boots is quite low, and it doesn't change much if they produce more boots. You, as a marketing expert tell the CEO of Timberland that if it decreased prices by 20%, it would sell more boots and that profits would rise. If you are correct, at its current output:
A. Not enough information to answer this question.
B. MCC. MC>MR
D. MC=MR

Sagot :

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