Question

Assume that there are no fixed costs and ac = mc = $200. at the profit-maximizing output and price for a monopolist, producer surplus is:

Answer 1

Assume that there are no fixed costs and ac = mc = $200. at the profit-maximizing output and price for a monopolist, the producer surplus is $3200.

The government provides public services such as railroads. They are therefore the monopoly as no new partners or private companies are allowed to operate the railways. A monopoly is an individual, group, or company that controls a market for goods or services.

A monopolist is a person, group, or company that controls and controls the market for a particular good or service. This lack of competition and lack of alternative goods or services means that monopolists have enough power to charge high prices in the market.

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