Explain why a monopolist maximizes its long-run profit

Assignment Help Business Management
Reference no: EM131974082

Explain why a monopolist maximizes its long-run profit by producing that output for which marginal revenue equals long-run marginal cost. What sense does this monopolist pricing differ to perfect competitive market?

Reference no: EM131974082

Questions Cloud

How price regulation of a monopoly : Explain how price regulation of a monopoly can reduce the social cost (deadweight loss) of monopoly.
Consumer demand curve : How is the price-consumption curve in our model of consumer buying behavior related to the consumer's demand curve?
Describe the the loanable funds theory : If the Federal Reserve decided to contract the money supply, under the loanable funds theory, using the loanable funds theory what would be the effect.
Calculate what is the total cost of the ending inventory : Calculate what is the total cost of the ending inventory. Determine the total of cost of goods sold. Determine the total product cost for the year.
Explain why a monopolist maximizes its long-run profit : Explain why a monopolist maximizes its long-run profit by producing that output for which marginal revenue equals long-run marginal cost.
Presence of an externality in a market : Describe two methods for correcting the inefficiencies caused by the presence of an externality in a market.
Inelastic portion of the linear demand curve : Can the profit-maximizing monopolist produce an output that lies in the inelastic portion of the linear demand curve it faces? Why or why not?
Prepare a production cost report : The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2017. Prepare a production cost report.
Determine the total product cost for the year : Santiago Manufacturing Company began operations on January 1. During the year, it started and completed. Determine the total product cost for the year.

Reviews

Write a Review

Business Management Questions & Answers

  Explanation of ethical behavior in the workplace

Explain what it means to demonstrate positive ethical behavior in the workplace. Include examples to support your explanation.

  Financial policy targets in healthcare

1. What are key financial policy targets in healthcare 2. What are growth rate assets in healthcare

  Question related to debt and equity mix

Explain what are the main factors that go into determing the right mix of equity and debt and iF debt is always cheaper than equity ,why have equity

  Define organizational structure and the factors

5-7 slide power point about Coca-Cola.The introduction should describe the company, its industry or products, and its current status. Determine its organizational structure, the factors involved, and its effectiveness.

  Explain how many shares do you need to own to ensure

Explain How many shares do you need to own to ensure that you can elect at least one director if the company has majority voting?

  How to operate successfully in an international environment

Your guiding question is -how to operate successfully in an international environment?? The first part will be a case study focusing on a strategic problem,

  Generic strategy for a firm

Consider the four main generic strategies. Select one of them (cost leadership, differentiation, focused cost leadership, or focused differentiation)

  Information on writing a business memo

Business Writing Skills for more information on writing a business memo. Internal Controls more information on the topic of internal control.

  Develop a training program for the following situation

Develop a training program for the following situation - You witness two employees racing down the hallway, encouraged by the shift supervisors and their employees.

  Performance plans make organizations more effective

Do pay for performance plans make organizations more effective? How should organizations make pay for performance work for them?

  Determining the acquisition of cgr

In your opinion, what was the most fundamental, important mistake made by GE following the acquisition of CGR?

  Implementing a lean process improvement

1) What do you think are the cost factors to consider when implementing a lean process improvement?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd