In theory we know that a monopolist basis its price, Ask an Expert

Economics

In theory, we know that a monopolist basis its price directly off of the demand curve, but in practice a monopolist cannot 'see' the demand curve. Explain how a monopolist might set prices, even without having explicit knowledge of the shape of the demand curve.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9685979

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