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

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 ...

A company's pricing strategy is never permanent. Business managers must continuously evaluate their pricing plan and make adjustments to changes in consumer wants, competitor actions and the economic ...