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We have information on demand and cost. Now where should the firm set the price? Before examining a monopolist's situation, it's useful to start with
We have information on demand and cost. Now where should the firm set the price? Before examining a monopolist's situation, it's useful to start with the benchmark case of a competitive market. Let's say there are many nearly identical firms making this particular product. In a competitive market (and assuming there are no ongoing fixed costs), what would the price of a 1000-unit dose drop to
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Economics
Authors: R. Glenn Hubbard
6th edition
978-0134797731, 134797736, 978-0134106243
