Profit Maximization Article Summary

Description

1. article summary. Please pick one topic from the list of
topics are given below and find an article on
it from a news source (e.g., wall street journal 
Monopoly Power
Usually envision a very large firm-not always the case
— Relevant consideration is whether there are other firms selling close substitutes for the good in a given market.
nOne producer in market->market demand curve is the demand curve for the monopolist’s product.
— A monopolist does NOT have unlimited power, however.
nAbsence of legal restrictions, monopolist is free to charge any price for the product.
nMonopolist is restricted by consumers to choose only those price-quantity combinations along the market demand curve.
— The monopolist can choose the price or quantity but not both. 
— Monopolist can sell higher quantities only by lowering price.
»Price a monopolist can charge for the product depends on how much is produced. 
2. article summary. Please pick one topic from the list of
topics are given below and find an article on
it from a news source (e.g., wall street journal) and write a summary of
about 1 page in length of the article. 
profit maximization 
objective is to see how the manager of a monopoly may exploit this power to maximize profits.
–Characterize the price and output decisions that maximize the monopolist’s profits.
–Price is dependent upon how much the monopolist produces
–Price-Quantity relation is summarized by the same information as the demand curve, but since want P in terms of Q, we need inverse demand function. 
each article summary in a different word document do not mix them together when writing

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