Single- price monopolies maximise profit by producing the amount of output where

Name: Single- price monopolies maximise profit by producing the amount of output where
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Question

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Single-price monopolies maximize profit by producing the amount of output where marginal revenue (MR) is equal to marginal cost (MC). This is because profit is maximized when the cost of producing one more unit of output (MC) is exactly equal to the revenue gained from selling that additional unit (MR).

Single- Price Monopolies Maximise Profit by Producing the Amount of Output