ashleybashaam6821
22.04.2020 •
Business
The monopolist estimates its marginal revenue curve, where marginal revenue is defined as the ___ percentage change in ___ total average revenues due to a one-unit change in quantity sold. For the perfect competitor, price equals ___ marginal total revenue equals average revenue. For the monopolist, ___ marginal total revenue is always less than the price because price must be reduced on all units to sell more. The price ___ rigidity elasticity of demand for the monopolist depends on the number and similarity of substitutes. The more numerous the imperfect substitutes, the greater the price ___ elasticity rigidity of the monopolist's demand curve.
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