types of monopoly profit
Post on 29-May-2015
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KNOW
UNDERSTAND
The profit maximising position for a PC and A MonopolistEquilibrium output taking a marginal analysis approach
How to illustrate the profit maximising position for both PC and MonopolyDecisions of firms using a marginal approach when there are price changes
THINKING – MANAGING SELF – PARTICIPATING AND CONTRIBUTING - RELATING TO OTHERS – USING LANGUAGE, SYMBOLS and TEXT
LEVEL 3 ECONOMICS AS3.1 Understand marginal analysis and the behaviour of firms
Understanding Economics Chapt 9, P80-99
PRICECOSTREVENUE
QUANTITY
MR
A Monopoly making NORMAL PROFIT
MCAC
AR=P=D
Qmax
Ce Pe
NORMAL PROFIT
PROFIT = TR -TC
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