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why monopolists produce lower quantities at higher prices compared to perfectly competative firms?
Q:2
draw indefference curve for two commodities apples and oranges.
Q:3
(A)
why a marginal revenue and price are equal under perfect competition
(B)
from information given below
TR=25Q-Q2
calculate marginal revenue and the slop of marginal.
Q:4
If a consumer facing some budget constraint and having many indifference curves then what will be the optimum point where he can maximize his utility?
also draw the diagram.
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