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Illustrate the price the firm will charge

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Reference no: EM131967971

First, Draw a graph that a typical monopoly as it sets it price. Makes sure to add in all costs curves, marginal revenue and demand to illustrate the price the firm will charge.

Then how does a Monopoly pricing method using the above graph, operate different from a firm that prices as in Perfect Competition?

Reference no: EM131967971

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