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  • Macroeconomic Thursday 8-9 1762022

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    Diyanah Kenny
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    This document discusses a monopoly firm that produces 150 units of output with marginal costs of $50 and average revenue of $45 per unit. It operates in a market with barriers to entry where it is the single supplier of a unique product and can influence the market price.

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    MACROECONOMIC THURSDAY 8-9 1762022

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    This document discusses a monopoly firm that produces 150 units of output with marginal costs of $50 and average revenue of $45 per unit. It operates in a market with barriers to entry where it is the single supplier of a unique product and can influence the market price.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    7 views9 pages

    Macroeconomic Thursday 8-9 1762022

    Uploaded by

    Diyanah Kenny
    This document discusses a monopoly firm that produces 150 units of output with marginal costs of $50 and average revenue of $45 per unit. It operates in a market with barriers to entry where it is the single supplier of a unique product and can influence the market price.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 9

    ANGELS

    THURSDAY 8-9 PM
    17/6/2022
    The level of output for this monopoly firm is 150
    MC=MR
    = 50

    The price of this monopoly firm is 45


    MC=MR
    = 45
    1) A unique product
    2) Single supplier

    Perfect competition. perfect competition occurs when all companies sell identical products,
    market share does not influence price, companies are able to enter or exit without barrier,
    buyers have perfect or full information, and companies cannot determine prices.
    i = Average Variable Cost (AVC)

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