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When the iPod was first introduced by Apple, it was a product so different to other portable music players that it was seen as being in its own market (ie: having features of a monopoly). Assume Apple sold the number of iPods to maximise profit. Which of the following statements are true: Assuming demand was linear, the demand curve for iPods was twice as steep as the marginal revenue curve. average total cost. The iPod's average total cost of production can be used to calculate profit when Apple determines the profit maximising quantity of iPods The marginal revenue for each iPod sold was equal to the price it was sold for.
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