Economy, asked by SYEDsmg, 1 year ago

Explain the characteristics and price output determination under monopoly market.​

Answers

Answered by Anonymous
30

Answer:

PRICE-OUTPUT DETERMINATION UNDER MONOPOLY:

A firm under monopoly faces a downward sloping demand curve or average revenue curve. ... Therefore, the monopolist will be in equilibrium at output OM where marginal revenue is equal to marginal cost and the profits are the greatest.

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