Monopoly - the meaning of monopoly - the Monopolist's Profit Maximizing Output and price
3 important questions on Monopoly - the meaning of monopoly - the Monopolist's Profit Maximizing Output and price
If the marginal revenue exceeds marginal cost
Monopolist increases profits by producing more
If marginal revenue is less than marginal cost?
Monopolist is only going to increase profit by producing less
What is the optimal output rule
MR=MC
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