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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

A monopoly firm is currently earning positive economic profit, and the owner decides to sell it. He asks for a price that takes into account the economic profit. Explain and diagrammatically show what a price that takes into account economic profit does to the average total cost (ATC) curve of the firm.

To determine

The marginal revenue of the monopolist.

Explanation

The total revenue at Q1 amount of quantity and P1 level of price is equal to P1Q1, and at Q2, the amount of quantity and P2 level of price equals P2Q2...

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