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Using the following graph: How does the monopolist determine the production level that will maximize profits? (Meaning what determine the quantity that the monoplist will
Using the following graph:
How does the monopolist determine the production level that will maximize profits? (Meaning what determine the quantity that the monoplist will produce?) and what quantity how does the monoplist dtermine the price to change in the market and in this situation does the monopolist earn economic profits?