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    Price and Output Determination

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    rupali pramanik
    A monopoly is a market structure with a single seller that controls the entire market for a good or service with no close substitutes. As the sole producer, the monopolist can influence prices by changing the supply. If wanting to sell more, the monopolist can reduce prices, and if wanting to sell less, prices can be increased since there is no competition. Under monopoly, there is no distinction between the industry and the single organizing producing the entire supply.

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    Price and Output Determination

    Uploaded by

    rupali pramanik
    4 views1 page
    A monopoly is a market structure with a single seller that controls the entire market for a good or service with no close substitutes. As the sole producer, the monopolist can influence prices by changing the supply. If wanting to sell more, the monopolist can reduce prices, and if wanting to sell less, prices can be increased since there is no competition. Under monopoly, there is no distinction between the industry and the single organizing producing the entire supply.

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    Price and output determination

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    A monopoly is a market structure with a single seller that controls the entire market for a good or service with no close substitutes. As the sole producer, the monopolist can influence prices by changing the supply. If wanting to sell more, the monopolist can reduce prices, and if wanting to sell less, prices can be increased since there is no competition. Under monopoly, there is no distinction between the industry and the single organizing producing the entire supply.

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    © All Rights Reserved
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    Flag for inappropriate content
    Download as docx, pdf, or txt
    4 views1 page

    Price and Output Determination

    Uploaded by

    rupali pramanik
    A monopoly is a market structure with a single seller that controls the entire market for a good or service with no close substitutes. As the sole producer, the monopolist can influence prices by changing the supply. If wanting to sell more, the monopolist can reduce prices, and if wanting to sell less, prices can be increased since there is no competition. Under monopoly, there is no distinction between the industry and the single organizing producing the entire supply.

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    © All Rights Reserved
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    Price and Output Determination under

    Monopoly
    Article shared by:
    Monopoly refers to a market structure in which there is a single
    producer or seller that has a control on the entire market.

    This single seller deals in the products that have no close


    substitutes and has a direct demand, supply, and prices of a
    product.

    Therefore, in monopoly, there is no distinction between an one


    organization constitutes the whole industry.
    Demand and Revenue under Monopoly:

    In monopoly, there is only one producer of a product, who


    influences the price of the product by making Change m supply.
    The producer under monopoly is called monopolist. If the
    monopolist wants to sell more, he/she can reduce the price of a
    product. On the other hand, if he/she is willing to sell less, he/she
    can increase the price.

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