Abstract
This is the same firm as we saw in the problem of the previous chapter but with new management. The firm is now a monopoly, meaning that it can adjust its output and selling price to maximize its profit. This situation means that the profits will be higher than was the case with the competitive firm in this market and the output will be lower.
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© 1994 Springer Science+Business Media New York
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Hannon, B., Ruth, M. (1994). The Monopolistic Firm. In: Dynamic Modeling. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-662-25989-4_21
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DOI: https://doi.org/10.1007/978-3-662-25989-4_21
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-94309-9
Online ISBN: 978-3-662-25989-4
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