PRICE OUTPUT UNDER MONOPOLY

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PRICE OUTPUT UNDER MONOPOLY

In the preceding chapters. we studied the conditions of equilibrium under perfect competition. We have also seen how price and output arc determined in a per fectly competitive industry. We shall now study price-output determination under imperfect competition which may take the form of a monopoly. monopolistic competition or.oligopoly, The present chapter will deal with monopoly

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PRICE OUTPUT UNDER MONOPOLY