Business & Management
大学生・専門学校生・社会人

1. Why is a monopolist’s marginal revenue curve less than the price of the good it sells?

2. Suppose that a monopolist's marginal cost curve shifts upward. What is likely to happen to the price the monopolist charges, the quantity it produces, and the profit it makes? Use a graph to illustrate your answer.

3.Why do competitive firms earn zero economic profit in the long run?

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