Suppose the monopolist has total fixed costs equal to$ 5 and a variable cost equal to$ 4 per unit for all units produced.$ 11 is the total profit if she operates at her profit-maximizing price.
Total profit = Price x volume
Total cost = Total fixed cost Variable cost per unit x volume
Borderline profit = Current total profit-former total profit/ Current volume-former volume
Borderline cost = Current total cost-former total cost/ Current volume former volume
Maximum profit = Total profit Total cost maximum profit = 24- 13 = 11The total profit if he operates at her profit-maximizing price ice.$ 11.
As Irving Fisher explained, a monopoly is a noncompetitive demand that creates a situation in which a particular person or establishment is the sole supplier of a particular thing. A monopoly zilches an individual, group, or company that controls and controls the demand for a particular good or service. This lack of competition and lack of indispensable goods and services means that monopolists apply enough power in their businesses to charge high prices.
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