what is the effect on output of an increase in r2. if the output is sold by a monopolist
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what is the effect on output of an increase in r2. if the output is sold by a monopolist
Explanation:
Output will be sold more if the rate increase in an monopoly because:
- In this type of market there is one seller who can adjust the price on his own without any fear of lose.
- When rate increase output will also increase.
- Goal is profit maximization.
- More output is sold.
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