3.3 Explain the long-run profit maximising position of a monopolist. Substantiate your answer bychoosing and applying the ONE correct diagram below:PriceLRMCMCZero Economi PrufitLRATCATCEconomicprofitDARMRD=AR=PMRQuantityQuantityDIAGRAM ADIAGRAM B

Here we have to find which of the two diagrams shows the long run profit maximizing function.

Answered: 3.3 Explain the long-run profit…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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3.3 Explain the long-run profit maximising position of a monopolist. Substantiate your answer by choosing and applying the ONE correct diagram below: Price LRMC MC Zeo t Pru LRATC ATC Economic profit D=AR=P MR Quantity Quantity DIAGRAM A DIAGRAM B