The cost structures of a monopoly have the same relationships among fixed costs, variable costs, marginal costs, and average cost values as pure competition.
Profits for the monopolist, like all organization, can be identical to total revenues minus total costs. The sample of costs for the monopoly may be analyzed inside the identical framework because the costs of a perfectly competitive firm—that is, with the aid of using using total cost, fixed cost, variable cost, marginal cost, average cost, and average variable cost.
However, due to the fact a monopoly faces no competition its situation and its choice method will fluctuate from that of a superbly aggressive organization.
<h3>What is Monopoly Price?</h3>
A monopoly price is set by a monopoly. A monopoly occurs when a firm lacks any viable competition and is the sole producer of the industry's product. Because a monopoly faces no competition, it has absolute market power and can set a price above the firm's marginal cost. Since marginal cost is the increment in total cost required to produce an additional unit of the product, the firm can make a positive economic profit if it produces a greater quantity of the product and sells it at a lower price.
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Answer:
The correct answer is letter "D": Proven product.
Explanation:
A franchise is a company in which one party -<em>the franchisee</em>- acquires access to a franchisor's proprietary information, processes, and trademarks. The franchisee purchases the right to sell a product or service under an established brand name that offers a <em>proven product</em>, <em>the customer already knows the brand so there is no need to expend additional resources on promoting it</em>.
Answer:
D
Explanation:
Because if someone takes your card they wont know your pin
What are the answer things? (A, B, C and D)
Yes, BTS is a popular South-Korean K-POP band.