A monopoly will always charge a price that is ______________ (greater than / less than / equal to) marginal cost.
Question
Solution 1
A monopoly will always charge a price that is greater than marginal cost.
Here's why:
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A monopoly, by definition, is the only seller of a particular product or service in the market. This gives the monopoly power to set the price of the product or service.
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The marginal cost of a product or Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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