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20 votes
20 votes
Indicate the point where a monopoly will set its price.

User Prateek Batla
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1 Answer

12 votes
12 votes

Answer:

Equilibrium point.

Step-by-step explanation:

The equilibrium price is the only price where the plans of consumers and the plans of producers agree—that is, where the amount consumers want to buy of the product, quantity demanded, is equal to the amount producers want to sell, quantity supplied. This common quantity is called the equilibrium quantity. At any other price, the quantity demanded does not equal the quantity supplied, so the market is not in equilibrium at that price.

User Punov
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