Monopoly Profit Maximisation.
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Monopoly Profit Maximising (Pricing where MC=MR)
Question: Suppose that marginal costs at the profit maximising quantity were lower than the price at that quantity.What can you say about the welfare properties of such a situation.
Monopoly Profit Maximising (Pricing where MC=MR)
Question: Suppose that marginal costs at the profit maximising quantity were lower than the price at that quantity.What can you say about the welfare properties of such a situation.
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