Question

Class 11 market equilibrium under perfect competition and effects of shifts in demand and supply maritnation

Answer 1

following this rule for profit maximization, competitive firms and monopolies are alike. But there is also an important difference between these types of firms: The marginal revenue of a competitive firm equals its price, whereas the marginal revenue of a monopoly is less than its price.

Answer 2

Explanation:

the profit consumption is the answer