shape of revenue curve of a monopolist
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Monopoly is a market structure with a single firm selling a unique good. ... For a perfectly competitive firm with no market control, the total revenue curve is a straight line. For firms with more market control, especially monopoly, the total revenue curve is "hump shaped," increasing, reaching a peak, then declining.
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Monopoly is a market structure with a single firm selling a unique good. ... For a perfectly competitive firm with no market control, the total revenue curve is a straight line. For firms with more market control, especially monopoly, the total revenue curve is "hump shaped," increasing, reaching a peak, then declining...
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