MICROECONOMICS (LL)-W/ACCESS >CUSTOM<
MICROECONOMICS (LL)-W/ACCESS >CUSTOM<
11th Edition
ISBN: 9781264207718
Author: Colander
Publisher: MCG CUSTOM
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Chapter 14, Problem 3IP
To determine

The reason for selling something at a zero price by a firm.

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Suppose the local electrical company, a legal monopoly based on economies of scale, was split into four firms of equal size, with the idea that eliminating the monopoly would promote competitive pricing of electricity. What do you anticipate would happen to prices? Why? Use the editor to format your answer
What kind of firm can sell all its product at the market price but nothing above that price?
How much profit will it make at that lower price?
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