Competitive Market vs. Monopolisitc Pricing
A FIRM IN A COMPETITIVE MARKET MODEL TENDS TO MAKE ZERO
ECONOMIC PROFITS WHEN CHARGING A PROFIT MAXIMIZING PRICE AND A MONOPOLIST HAS
NO LIMIT TO THE AMOUNT OF PROFITS THAT CAN BE EARNED WHEN THEY CHARGE THE
PROFIT MAXIMIZING PRICE.
WHY IS THAT?
Tags tends model market competitive firm maximizing profits competitive market monopolist price hasno earned pricewhy theprofit charge limit charging firm pricinga monopolisitc model tends zeroeconomic make profit
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