Answer to Question #49140 in Microeconomics for Ian

Question #49140
A single price profit-maximizing monopolist is earning positive economic profits. If they decide to maximize total revenue instead, what would happen if they lowered the price below the revenue-maximizing price?
1
Expert's answer
2014-11-20T12:32:48-0500
If the price is lower than the revenue-maximizing price, then the monopolist loses it potential revenue.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
APPROVED BY CLIENTS