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perfectly discriminating monopolist sells the quantity where marginal cost intersects the demand curve P = MC The profit-maximizing level of output for a single-price monopolist
perfectly discriminating monopolist sells the quantity where marginal cost intersects the demand curve P = MC
The profit-maximizing level of output for a single-price monopolist occurs where MR = LMC.
A perfectly competitive industry would produce the quantity such that P = LMC
What is the difference between the three? and especially for the monopoly case, why are there two methods for the monopoly case? thanks !
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