Some economists argue that pure monopolists will purposely avoid the price-output combination that will maximize their profits.

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Some economists argue that pure monopolists will purposely avoid the price-output combination that will maximize their profits. Explain how this less-than-maximum profit behavior could be rational.

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Principles of economics

ISBN: 978-0538453042

6th Edition

Authors: N. Gregory Mankiw

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Question Posted: Nov 22, 2017 08:20 AM

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Some economists argue that pure monopolists will purposely avoid the price-output combination that will maximize their profits.

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This is generally used as an approach by the monopoly firm to avoid the competition by keeping offe...View the full answer

Principles of economics

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