Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. economics
  3. would like to have a nice summary for each questio

Would like to have a nice summary for each question. The Profit Maximizing decision for the...

80.2K

Verified Solution

Question

Economics

Would like to have a nice summary for each question.

The Profit Maximizing decision for the Monopolist with thePerfectly Competitive firm/industry. How do they differ? Note thedifferences between the Demand curve for the PC firm and the Demandcurve for the Monopoly. What kinds of profits accrue to theMonopolist? Why is it said that the Monopolist’s profits persist?Why is that not true for the firms in a Perfectly Competitiveindustry?

Thanks

Answer & Explanation Solved by verified expert
3.7 Ratings (468 Votes)
In the perfect competition the profit maximization condition is Price Marginal Cost and in the monopoly the profit maximization is Marginal Cost Marginal revenue In the perfect competition market the firm    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

A beverage can manufacturer makes three sizes of soft drink cans—Small, Medium and Large. Production is...

Statistics
1.2K views

III. A health-food store stocks two different brands of certain type of grain. Let X =...

General Management
1.2K views

What data processing models would you prescribe for each of the following: handling airline reservations, handling...

Physics
1.2K views

A uniform rod of length L is suspended by an end and is made to...

Physics
1.2K views

Two thin circular discs of mass m and 4m having radii of a and 2a...

Geometry
1.2K views

A bag contains 9 cards numbered 1 through 9. A card is randomly chosen from...

Basic Math
1.2K views

Express the column matrix b as a linear combination of the columns of A Use...

Algebra
1.2K views

Consider G x x 1 x 4 a Identify the x intercepts of the graph...

Accounting
1.2K views

After the success of the company's first two months, Santana Rey continues to operate Business...

Accounting
1.2K views

The current Federal Unemployment Taxes (FUTA) tax rate is 0.6\%, and the State Unemployment Taxes...

Accounting
1.2K views

At the end of 2020, Carla Vista Co. has accounts receivable of $712,300 and an...

Accounting
1.2K views

Current Attempt in Progress In March, Ivanhoe Company had the following unit production costs: materials...