The Monopoly Model

Watch this lecture for an explanation of the monopoly model. Pay special attention to how a mathematical equation for the demand curve and the supply curve can give you the equilibirum points for the quantity demanded and supplied and the equilibrium price. Also, note that the equilibrium point occurs when marginal revenue equals marginal cost for a monopolist.

Source: Jon Gruber
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Last modified: Wednesday, February 24, 2021, 5:34 PM