A firm that holds a short-run monopoly, such as a new technology, would consider all of the following options but...
A firm that holds a short-run monopoly, such as a new technology, would consider all of the following options but
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an increase in production, to sell as many units as they can while they hold the monopoly in the market. |
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a high price, to maximize profits in the short run |
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a low price in which they do not earn a profit until other firms develop similar technology. |
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limit pricing, where a reduced (but still profitable) short run price limits market entry |
Homework Answers
A firm that holds monopoly power will want to remain a monopoly in the long run as well and restrict competition in the market.It will not let other firms develop similar technology.
Answer-Third option
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A firm that holds a short-run monopoly, such as a new technology, would consider all of the following options but...
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Is this correct :)
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Is this correct :)
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