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    Short-Run Profit maximization

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    I am attaching the problem. You can solve it in the same document.

    1. What are the 3 condition for Short Run profit maximization in Monopoly?

    2. What are the 3 condition for Short Run profit maximization in Monopolistic
    competition?

    3. What are the 3 condition for Short Run profit maximization in oilgopoly?

    4. Illustrate a monopolistically firm in long run equilibrium

    (you can draw the curves using drawing tools)

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    https://brainmass.com/economics/general-equilibrium/short-run-profit-maximization-22022

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    Short-Run Profit maximization
    <br>-------------------
    <br>
    <br>Monopoly
    <br>--------
    <br>
    <br>1. Marginal Revenue (MR) = Marginal Cost(MC)
    <br>2. Price (P) > Marginal Cost(MC)
    <br>3. Positive Short-Run Profits.
    <br>
    <br>Monopolistic Competition
    <br>------------------------
    <br>
    <br>1. Marginal Revenue (MR) = Marginal Cost(MC)
    <br>2. Price (P) > ...

    Solution Summary

    Short-Run Profit maximization is determined.

    $2.19