Learn how monopolies maximize profits by equating marginal cost and revenue. Discover the economic principles guiding price and output decisions in monopoly markets.

Decisions on whether to increase production can usually be boiled down to a simple question of costs vs. benefits: Will the extra money you make from increasing your output be worth the additional ...

A rational business's main goal is always to maximize profits. As complicated as business processes can be, the end goal always remains reaching the maximum profit. There are many ways a company has ...