explain why in monopolistic market profit maximisation is given by MC = MR .give an example
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Increase output until MC = MR. If marginal cost exceeds marginal revenue, a profit-maximizing monopolist will: restrict output to increase the price even higher.
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Increase output until MC=MR . If marginal cost exceeds maginal revenue .
A profit - maximizing monopolist will : restrict output to increase the price even higher...........
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