The point where a monopoly will set its price: Point above marginal cost and marginal revenue
What is monopoly?
Monopoly can be defined as a market system in which only a supplier manufactures and sell their product in the market and in monopoly market there is no any competitor.
The monopoly will set its price at the point where marginal cost and marginal revenue intersects.
Inconclusion point above marginal cost and marginal revenue.
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