triplets371
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  • 21-07-2021
  • Computers and Technology
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what is profit maximization in Monopolistic competition market ​

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firetiger2815
firetiger2815 firetiger2815
  • 21-07-2021

Answer:

In a monopolistic market, a firm maximizes its total profit by equating marginal cost to marginal revenue and solving for the price of one product and the quantity it must produce. The monopolist's profit is found by subtracting total cost from its total revenue. In terms of calculus, the profit is maximized by taking the derivative of this function

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