a. What price will the monopolist charge for group O? What price will the monopolist charge for group M? What is the monopolist's total profit? For the next questions assume that it has become illegal to charge different prices and thus the monopolist must charge the same price to everybody. b. Write down equations representing (1) aggregate demand and (2) marginal revenue at all possible prices. Find the profit maximizing price and output. Will both O's and M's purchase tours, or only one or the

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Monopoly Market

When a company and its products dominate a sector or an industry, it is termed a monopoly. When a firm and its products control a market, then it is called a monopoly.