Rapido, the shoe company, is so popular that it has monopoly power. Its selling 20 million shoes per year. The marginal cost of making extra shoes is quite low, and it doesnt change much if they produce more shoes. Rapidos marketing experts tell the ceo of rapido that if it decreased prices by 20%, it would sell so many more shoes that profits would rise. If the expert is correct, at its current output, is mc=mr, is mc >mr, or is mc < mr? Choose one. Mc=mr
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