Explain why the marginal cost curve is equal to the supply curve for a monopoly. Why would a monopoly maximise revenue instead of profit? Give two reasons why the MR curve of a pure monopoly is downward sloping. Why can a monopoly make a positive economic profit even in the long-run?
Monopoly supplyIn the preceding sections, it is shown that a supply curve in the ordinary sense does exist and can be derived, which corresponds to a specified family of demand curves described by changes in a single parameter of demand. If the demand curve has n parameters, an equal number...
The price elasticity of supply varies over the supply curve for most goods or services, because production often involves several different methods of increasing the supply. For instance, when the price increases, suppliers can increase using their available resources and they can hire more labor ove...
Termmonopoly short-run supply curveDefinition: Market control by a monopoly firm means that it does not have a supply relation between the quantity of output produced and the price. By way of comparison a perfectly competitive firm does have a short-run supply curve. Market control by a monopo...
The supply curve is often displayed as a straight line, but the reality is that capital and labor costs money, so, in the long run, suppliers will not produce a product or supply a service if the price is insufficient to pay for the inputs and to provide a profit. In the short run...
aWhile a competitive firm is a price taker, a monopoly firm is a price maker. 当一家竞争企业是受价人时,独占企业是价格制作商。[translate] ait is the sole seller of its product. 它是它的产品的单一卖主。[translate] aA monopoly does not have a supply curve because the firm sets the price...
a祝老妈生日快乐 幸福安康 正在翻译,请等待...[translate] a在制作的过程中 正在翻译,请等待...[translate] aA monopoly firm does not have a supply curve. 独占企业没有一条供应曲线。[translate]
Economic equilibrium occurs when supply and demand are equal. It is the price point when the supply curve and demand curve overlap. At equilibrium, the market will agree on the given market price. Monopoly Amonopolyis a condition in which one seller controls the supply side of the market. Go...
Why is the demand curve negatively sloped under a monopoly? Give reasons why the long-run aggregate supply curve shifts? Why does only the portion of the MP curve below the AP curve represent the firm's labor demand curve for a...
Demand Curve vs Supply Curve Demand and supply are fundamental concepts in the study of economics that are very closely related to one another. Deman