Y2 19) Monopoly - Pros, Cons and Evaluation (Essay Plan) 

ong

same, so thankful!

How did u do

@@crispycharcoal9640 I passed the examsss.

got mine in 2 hrs lmfao

@@ramz1158 same bro, good luck

@@ramz1158 gl hf

You're correct that in the long run, perfect competition can achieve economies of scale due to productive efficiency and competition. However, it's important to note that monopolies can also benefit from economies of scale. When a monopoly operates at a large scale, it can spread its fixed costs over a greater quantity of output, resulting in lower average costs. This allows the monopoly to potentially reduce prices more than firms in perfect competition.

MC does MR on the Pm (monopoly situation) where quantity supplied is taken from that point (Qm). To then find price (Pm) - the profit maximising price - from the demand/price curve. Hope that helps

@@Anonymous-lg6od that doesnt answer the question though, for a competitive market, the equilibrium for Pc Qc is not at MC = MR

Think it’s because competitive outcomes are allocatively efficient so they produce where mc=ar

If Microsoft, Nintendo, Sony, and Sega were to jointly collaborate and create a super console, it would undoubtedly be a groundbreaking event in the gaming industry. Such a collaboration could potentially combine the strengths, resources, and expertise of these major players to deliver an unprecedented gaming experience to consumers

Carrefour, dont know if they are so popular in the UK, but basically they are a big supermarket industry, and they cross subsidize in the sense that they have a specific type of cheap generic branded foods that they sell in their own supermarket, and arguably they can sustain to lose money in the rice they seel for really cheap because theyhave abnormal levels of profit to do so

@eduardo Thanks for this.👍

@@austinwachira5185 if you want a uk based one, costco is a good example