Monopoly

3 years ago

Microeconomics

Monopoly – Market with only one seller.

Monopsony – Market with only one buyer.

Market power – Ability of a seller or buyer to affect the price of a good.

Marginal revenue – Change in revenue resulting from a one-unit increase in output.

D

1/ E_¿

P = ¿

1+¿

MC

¿

MR = ∆ R = ∆P×Q

ΔQ ΔQ

**A monopolistic market has no supply curve.

0

Bijay Satyal

Bijay Satyal

Dec 1, 2021

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