The figure given below shows the cost and revenue curves of a monopolist.Figure 11.9
D: Average revenue
MR: Marginal revenue
ATC: Average total cost
MC: Marginal cost
-A monopolist enjoys the least market power compared to the other market structures.

Question

The figure given below shows the cost and revenue curves of a monopolist.Figure 11.9
  D: Average revenue
MR: Marginal revenue
ATC: Average total cost
MC: Marginal cost
-A monopolist enjoys the least market power compared to the other market structures.

Quizplus · Accepted Answer

A monopolist enjoys the highest market power among all market structures, as it is the only seller of a particular product or service and has the ability to control the price and output levels in the market.

The Figure Given Below Shows the Cost and Revenue Curves