An industry produces 10,000 units of output at a price of $100. At the equilibrium price and quantity, the market elasticity of demand is -0.75. Does this industry consist of a profit-maximizing monopolist? Explain.

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The Answer of An industry produces 10,000 units of output at a price of $100. At the equilibrium price and quantity, the market elasticity of demand is -0.75. Does this industry consist of a profit-maximizing monopolist? Explain.

An Industry Produces 10,000 Units of Output at a Price