Question 5.
When marginal revenue interests marginal cost on a
graph:
a monopolist must go up to the demand curve to find the price.
Explanation - The monopolist produces its profit maximising
level of output at MR = MC. And in oder to find the price
associated with this level of output, in the graph, the monopolist
will find the point at the demand curve; where the intersection
point of MR and MC meets up on the demand curve.
Question 5 2 pts When marginal revenue intersects marginal cost on a graph, a monopolist prices...
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