Week 2_11 Change in Demand/Supply for a Monopoly
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Get to know Basic Concepts: -- In line with what the theory of perfect competition. -- An increase in demand leads to a shift of the demand curve to the right leading to an increase in price and quantity. -- The marginal revenue curve also shifts to the right. -- An increase in the variable cost of production leads to a shift of the supply curve to the left leading to an increase in price and a decrease in quantity. |
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Question: 1. An decrease in the variable cost of production leads to a(n) ______________ (increase/decrease) in price. 2. A decrease in demand causes the marginal revenue curve shift to _________ (left/right). Discuss with fellow students in Discussion Forum. |
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Watch the Video: Demand: Download the course slides Part A (Demand) Download Part A (Demand) & Part B (Supply) Download Part B (Supply) More insightful analysis from IULM university of Milan? Let's listen to the presentation given by Associate Prof. Bagnasco from Italy.
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