Tierriny7442 Tierriny7442

18-03-2018
Business

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A single-priced, profit-maximizing monopolist: causes excess demand, or shortages, by selling too few units of a good or service. chooses the output level at which marginal revenue begins to increase. always charges a price above the marginal cost of production. also maximizes marginal revenue. none of the statements is true.

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MrsTriplet MrsTriplet

28-03-2018

A single-priced, profit-maximizing monopolist always charges a price above the marginal cost of production.

The monopolist (since there is only one and no competition) sets the output level and the price based on the demand they are seeing. The price will always be above the marginal cost of production so that they will see income and revenue.

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