Ask Question
6 November, 22:13

the graph represents price and output quantities under a monopoly what price will the monopolist firm set

+2
Answers (1)
  1. 6 November, 22:51
    0
    A monopoly is a situation of legal privilege or market failure, in which there is a producer or economic agent (monopolist) that has a great market power and is the only one in a given industry that has a product, good, resource or service determined and differentiated. The monopolist controls the quantity of production and the price, although not simultaneously, since the choice of production or price determines the position one has regarding the other; that is to say, the monopoly could first determine the production rate that maximizes its profits and then determine, by using the demand curve, the maximum price that can be charged to sell said production.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “the graph represents price and output quantities under a monopoly what price will the monopolist firm set ...” in 📘 Social Studies if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers