From Perfect Competition to Monopoly

Note the difference between perfect competition and monopoly:



The monopolist is the market so the demand curve and the supply (MC) are on one graph.
The ATC is the same
The MC is the same
The marginal revenue curve is downward sloping and not equal to the demand curve.

PROFIT MAXIMIZATION is still found where MR=MC




Watch the following video and answer the questions.  If the questions do not appear, click here to see the questions in  a new tab.

Monopoly-Khan Academy Basics




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