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SHORT-RUN SITUATION OF A FIRM UNDER MONOPOLY

SHORT-RUN SITUATION OF A FIRM UNDER MONOPOLY A firm under monopoly aims at profit maximization and profits are maximized at a point where Marginal cost is equal to Marginal revenue (MC =MR) and this is the equilibrium position.  In the short run the firm can either earn Economic/Supernormal profits or incur losses.
 
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