While a firm may be a monopoly in the short term ... per unit for each respective quantity of output in the long run. The LRAC curve is comprised of a group of short-run average cost (SRAC ...

But while you are in a position as a market leader, it's important to understand how your monopoly determines your demand curve and why your marginal revenue curve will always be lower than your ...

In a purely monopolistic model, the monopoly firm can restrict output, raise prices, and enjoy super-normal profits in the long run. A monopoly ... on a lower cost curve than any other producer.