how does the competitive firm, monopolist and monopolistically competitive firm determine its profit-maximizing level of output and price? explain the answer.
Answers
Answered by
1
Answer:
may be help you
Explanation:
monopolist can determine its profit-maximizing price and quantity by analyzing the marginal revenue and marginal costs of producing an extra unit. If the marginal revenue exceeds the marginal cost, then the firm should produce the extra unit.
Similar questions