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Brums [2.3K]
3 years ago
10

Assume a monopolist with​ downward-sloping demand and marginal revenue​ (MR) curves. The monopolist operates with standard margi

nal cost​ (MC) and average total cost​ (ATC) curves. How does a monopolist determine the​ profit-maximizing output level and the corresponding​ profit-maximizing price?
Business
1 answer:
xxTIMURxx [149]3 years ago
7 0

Answer:

The monopolist's profit maximizing level of output and corresponding profit-maximizing price is found by equating its marginal revenue with its marginal cost, which is the same profit maximizing condition that a perfectly competitive firm utilizes in determining its equilibrium level of output. Therefore, as the price falls, the market's demand for output increases.

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