Both competitive firms and monopolies produce at the level where marginal cost equals marginal revenue. Then, other

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Both competitive firms and monopolies produce at the level where marginal cost equals marginal revenue. Then, other things remaining the same, why is price lower in a competitive market than in a monopoly?

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Microeconomics

ISBN: 978-1292079578

Global Edition 1st Edition

Authors: David Laibson, John List

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Question Posted: Dec 15, 2015 07:58 AM

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Both competitive firms and monopolies produce at the level where marginal cost equals marginal revenue. Then, other

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In both market structures firms produce the level of output such that marginal cost equals ma...View the full answer

Microeconomics

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