Costs & Revenue INELASTIC MARKET ELASTIC MARKET COMBINED MARKET X2 X1 P2 P1 AR Y1 -MC = ATC Y2 MC . MC1 --- MC2 AR AR MR MR Output Q1 Q2 Copyright: www.economicsonline.co.uk MR a) Looking from the price perspective what kind of monopoly is presented cumulatively in all three diagrams? b) explain what are the diagrams are explaining? Support them with the example of your choice.

Costs & Revenue INELASTIC MARKET ELASTIC MARKET COMBINED MARKET X2 X1 P2 P1 AR Y1 -MC = ATC Y2 MC . MC1 --- MC2 AR AR MR MR Output Q1 Q2 Copyright: www.economicsonline.co.uk MR a) Looking from the price perspective what kind of monopoly is presented cumulatively in all three diagrams? b) explain what are the diagrams are explaining? Support them with the example of your choice.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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