In our video on Maximizing Profit Under Monopoly, we cover how firms can use their market power to raise the price of a good well beyond its marginal cost. A

In our video on Maximizing Profit Under Monopoly, we cover how firms can use their market power to raise the price of a good well beyond its marginal cost. A practice question from the Microeconomics final exam asked you to find the total profit of a monopolist under certain conditions. In this Office Hours session, Mary Clare Peate, Marginal Revolution University’s Instructional Designer, helps you solve that problem.

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