Pure Monopoly: Demand, Revenue and Costs, Price Determination, Profit Maximization and Loss Minimization
![A monopoly firm is currently earning a positive economic profit, and the owner decides to sell it. He asks for a price that takes into account the economic profit. Explain and diagrammatically A monopoly firm is currently earning a positive economic profit, and the owner decides to sell it. He asks for a price that takes into account the economic profit. Explain and diagrammatically](https://homework.study.com/cimages/multimages/16/monopoly312996513359137320.jpg)
A monopoly firm is currently earning a positive economic profit, and the owner decides to sell it. He asks for a price that takes into account the economic profit. Explain and diagrammatically
![Draw a graph that shows a monopoly firm making economic profit in the short run. Be sure your diagram includes the monopolist's demand, marginal revenue, average total cost, and marginal cost curves. Draw a graph that shows a monopoly firm making economic profit in the short run. Be sure your diagram includes the monopolist's demand, marginal revenue, average total cost, and marginal cost curves.](https://homework.study.com/cimages/multimages/16/study4803531500348220091.jpg)