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Monopoly

Monopoly

Monopoly . Maximize Profit Condition. A Monopolistic maximizes profit by producing quantity Q * where marginal revenue equals marginal cost. MR ( Q * ) = MC ( Q * ). P. P. D. P 1. D. Q 1. Q 1 +1. Q. Q 1. Q 1 +1. Q. Marginal Revenue. 2. 1. Marginal Revenue. Average Revenue.

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801 views • 52 slides
Chapter 4

Chapter 4

Chapter 4 . Monopoly and Antitrust. Measuring the Cost of Monopoly. We know monopolists Charge more (p m >p c ) Produce less ( Q m <Q c ) Higher prices Hurt consumers Help producers Cannot say economy is worse off. $. MC. D. P m. P c. Q. Q m. Q c. MR.

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213 views • 14 slides
Topic 2 Lecture 12

Topic 2 Lecture 12

Topic 2 Lecture 12. Putting Simple Costs and Revenues together. Note: scale is different on the vertical axis in the 2 panels. Suppose that your business has just one fixed cost to pay: How would you show this on the lower panel of the diagram? And on the upper panel?. p. D. TR. X. MR.

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217 views • 14 slides
The Basics of Culture

The Basics of Culture

The Basics of Culture . Objective: SWBAT . World Studies. What is culture ? ? Important words/ definitions are in BOLD. The way of life shared by members of a society. A set of learned beliefs, values, and behaviors. A person can be a part of many cultures and/or sub-cultures.

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210 views • 12 slides
Monopoly Pricing and Output

Monopoly Pricing and Output

Monopoly Pricing and Output. We study the pricing and output decision of the monopoly firm. Price and output decision for the monopolist in the short run. The amount of output the monopolist should sell in the short run is the amount where MR = MC(as long as

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387 views • 9 slides
The Basics of Culture

The Basics of Culture

The Basics of Culture . World Studies. What is culture ? . Culture is the ways of life shared by members of a society or part of society. Culture includes a set of learned beliefs, values, and behaviors. A person can be a part of many cultures or sub-cultures.

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218 views • 7 slides

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