Trisha has a monopoly on formal gowns in the local market. She is currently charging $250 per gown and sells 20 in a month. The elasticity of demand is -1.5 at this price and output level. What must be Trisha's marginal cost of the last gown produced if she is maximizing profits?

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The Answer of Trisha has a monopoly on formal gowns in the local market. She is currently charging $250 per gown and sells 20 in a month. The elasticity of demand is -1.5 at this price and output level. What must be Trisha's marginal cost of the last gown produced if she is maximizing profits?

Trisha Has a Monopoly on Formal Gowns in the Local