Asked by ryan
"Deciding on which price to charge is more difficult under less than perfectly competitive conditions (i.e., monopoly) than it is under perfectly competitive conditions." Discuss
Answers
Answered by
economyst
Take a shot, what do you think?
Hint: What information does the firm in the perfect competitive market need to determine it's profit maximizing price? Compare that to the information needed to determine the optimum price in a monopoly.
Hint: What information does the firm in the perfect competitive market need to determine it's profit maximizing price? Compare that to the information needed to determine the optimum price in a monopoly.
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.