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:
<u>Sustainable</u>
Explanation:
Sustainable development in simple terms refers to the development which can be sustained or carried forward for a long period of time.
It refers to satisfying and meeting the needs of the current generation without jeopardizing the needs and resource availability for the future generations.
Economic development refers to the rise in per capita income while sustainable development incorporates economic as well as human development.
Such development aims at judicious usage of resources , equitable distribution of resources and reduction in wastage.
Answer:
Damage to the tree as well as to mailbox will be covered under the John' s property damage coverage whereas the damage to the truck will be covered under the Collision coverage section.
Explanation:
Property damage coverage is the liability coverage which is a part of a car insurance policy. It pays to the repair, damage the person cause to another person's property. In this case, it pays for the mailbox and trees damage.
Collision coverage or insurance is a coverage that pays to repair or replace the car which got damaged in an accident. In this case, the truck damage will be covered under this.
