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Lecture Microeconomics: Theory and applications (12th edition): Chapter 11 - Browning, Zupan
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Chapter 11 - Monopoly. In this chapter students will be able to: Define monopoly and show what a monopolist’s demand and marginal revenue curves look like, explain why a monopolist’s profit-maximizing output is where marginal revenue equals marginal cost, describe why the extent to which a monopolist’s price exceeds marginal cost is larger the more inelastic the demand faced by the monopolist,...
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