Learn how monopolies maximize profits by equating marginal cost and revenue. Discover the economic principles guiding price and output decisions in monopoly markets.

Mary Hall is a editor for Investopedia's Advisor Insights, in addition to being the editor of several books and doctoral papers. Mary received her bachelor's in English from Kent State University with ...

The world of microeconomics and business decision-making hinges upon a key concept: marginal cost. In the simplest terms, marginal cost represents the expense incurred to produce an additional unit of ...

Log-in to bookmark & organize content - it's free! A panel discussion was held on the work of philosopher and economist F.A. Hayek. Here Professor Richard Epstein discusses Hayek's view of government ...

The revenue-maximizing price is the cost at which a business will make the most revenue for a given item. In order to find the price that will maximize revenue, a business must either experiment with ...