The following article will guide you about how to determine price and output under monopoly market. Price and Output Determination during Short Period: Each monopolist aims at maximisation of his profit. He has full control over the supply of a commodity. The elasticity of demand is inelastic under monopoly market structure and he determines the […]
How to Determine Price and Output under Monopoly? | Microeconomics
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How to Determine Price and Output under Oligopoly? | Microeconomics
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The following article will guide you about how to determine price and output under oligopoly. Generally, a firm will be in equilibrium where its marginal cost curve cuts its marginal revenue curve from its below (MC=MR) and price will be depicted by the average revenue curve or demand curve of the firm. Price and output […]
How to Attain Equilibrium of an Industry? | Perfect Competition | Economics
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In this article we will discuss about how to attain equilibrium of an industry under perfect competition. There is a large number of firms and group of all the firms is called an industry where all the firms are producing a single commodity. The equilibrium of an industry is that situation where there is no […]