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Microeconomics II
book

Microeconomics II

by D.N. Dwivedi
August 2011
Intermediate to advanced content levelIntermediate to advanced
368 pages
14h 51m
English
Pearson India
Content preview from Microeconomics II
Price and Output Determination Under Monopoly 47
under monopoly. Economists believe that, there is no unique or precise supply curve under monopoly.
In order to examine this issue, let us try to trace supply curve under monopoly by using the method and
logic of deriving supply curve. (For method used, see Chapter 2, Section 2.4).
We know that a supply curve exhibits a unique relationship between price and quantity supplied. is
unique relationship between market price and quantity supplied does not exist under monopoly, at least
at the theoretical level. A prot maximizing monopoly rm determines its equilibrium output where
MR = MC and P ...
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Publisher Resources

ISBN: 9788131797655