Microeconomics Week 10 Part 3
7:24
YouTubeFirdaus Manalu
Microeconomics Week 10 Part 3
Regardless of the market structure, the Golden Rule of Profit Maximization remains the same: Produce where Marginal Revenue equals Marginal Cost (MR=MC). We outline the three-step decision process for a monopolist: first, find the quantity where MR and MC intersect; second, go up to the Demand curve to set the price; and third, compare that ...
11 hours ago
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