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November 27, 2014

Homework Help: ECON

Posted by KP on Tuesday, March 22, 2011 at 4:59am.

A pure monopolist sells output for $4.00 per unit at the current level of production. At this level of output, the marginal cost is $3.00, average variable costs are $3.75, and average total costs are $4.25. The marginal revenue is $3.00. What is the short-run and long-run condition for the monopolist and what output changes would you recommend?

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