A (natural) monopoly has a flat marginal cost curve. Its ave
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A (natural) monopoly has a flat marginal cost curve. Its average cost curve is downward sloping (because it has a fixed
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A (natural) monopoly has a flat marginal cost curve. Its average cost curve is downward sloping (because it has a fixed cost). The firm can price discriminate perfectly. a. In a graph, show how much the monopoly produces, Q*. Will it produce to where price equals its marginal cost? b. Show graphically (and explain) what its profit is.
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