Suppose the government imposed a price ceiling on a, Business Economics

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Suppose the government imposed a price ceiling on a

Suppose the government imposed a price ceiling on a monopolist. Let denote the price ceiling, and suppose the monopolist incurs no costs in producing output. True or false: If the demand curve faced by the monopolist is elastic at the price, then the monopolist would be no better off if the government removed the price ceiling. Explain your answer.

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