monopoly Flashcards
1
Q
profit maximising `
A
MR=MC
2
Q
revenue maximising
A
MR=0
3
Q
sales maximising
A
AR=AC
4
Q
subnormal profit
A
AC>AR
5
Q
Supernormal profit
A
AC
6
Q
productive efficient
A
SRAC=SRMC
LRAC=LRMC
7
Q
Allocative efficient
A
AR=MC
