A monopoly company has an average variable cost of $6, average fixed cost of $8, marginal cost of $9, and elasticity of demand -4. In the short run, the company will: set P=$9. earn negative profit so shut down earn negative profit but still produce. set P-$12. set P=$14. earn positive profit. set P-$6. earn zero profit.

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Monopoly Market

When a company and its products dominate a sector or an industry, it is termed a monopoly. When a firm and its products control a market, then it is called a monopoly.