Learn how monopolies maximize profits by equating marginal cost and revenue. Discover the economic principles guiding price and output decisions in monopoly markets.

"Marginal" revenue refers to the increase in revenue that a company receives when it sells one additional unit of a product. At first glance, you might assume that marginal revenue is simply the price ...

A rational business's main goal is always to maximize profits. As complicated as business processes can be, the end goal always remains reaching the maximum profit. There are many ways a company has ...