The Monopolist's Demand Curve and Marginal Revenue
{"Image DocumentName": "The Monopolist\u2019s Demand Curve and Marginal Revenue", "Image ImageDescription": "To emphasize how the quantity and price effects offset each other for a firm with market power, notice the hill-shaped total revenue curve: This reflects the fact that at low levels of output, the quantity effect is stronger than the price effect: as the monopolist sells more, it has to lower the price on only very few units, so the price effect is small. As output rises beyond 10 diamonds, total revenue actually falls. This reflects the fact that at high levels of output, the price effect is stronger than the quantity effect: as the monopolist sells more, it now has to lower the price on many units of output, making the price effect very large.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}