What is a monopolist, What is a monopolist? Is the product

What is a monopolist

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Reference no: EM13803318

a) What is a monopolist? Is the product unique or there are no close substitutes. Discuss

b) What type(s) of decision does the monopolist make about pricing and the quantity of output to offer in the market? Can the monopolist determine the level of output and the price to charge independently of each other? Discuss.

c) Once output is determined via MR = MC, explain how the price is determined?

Reference no: EM13803318

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