What information would a firm need to come up with

Reference no: EM13201600

the firms such as monopolies or those under imperfect competition sell different or "differentiated" products. They have to select the price which suits them best, presumably ones which maximize profits.

What information would a firm need to come up with the profit-maximizing price?

Would this price be higher or lower than the one which maximizes total sales revenue? Explain.

Reference no: EM13201600

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