Menu
![]() This diagram shows how a monopoly is able to make supernormal profits because the price (AR) is greater than AC.Profit maximisation occurs where MR=MC.The diagram for a monopoly is generally considered to be the same in the short run as well as the long run. Readers Question: Explain with the help of diagrams the equilibrium of a firm having monopoly power in the market in the short-run and long-run?
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |