Monopoly: How to Graph It
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Uploader Comments (KylePurpuraLCS)
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All Comments (11)
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you are awesome, I did well on my test because of you
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you have a gift..... i'm from latin america and i get it perfectly.... thanks
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Please continue making videos!
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Thank you very much! Finally it makes sense
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Really good explanation. I also tried to describe monopolies but in a much more visual style. Watch it, if you like.
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thanks! :):)
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wow! this was really good graphing and explanation! thanx!
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Great Job, How would the whole graph look if the Monopoly had an inelastic product like for example Pharmacy B had vaccination that can cure AIDS and patented it, since the disease can be life threatening consumers are willing pay money to cure them of this disease so in a sense Pharmacy B realizes the demand for the vaccination how will this hypotheical situation look on the graph?
retrokidm1 1 month ago
@retrokidm1 In the situation you have described, it would probably be a pharmaceutical company that produces the drug to enjoy the monopoly power rather than a pharmacy. In the case you describe, you can indicate relative inelasticity of demand by drawing a fairly steep demand curve and a very steep marginal revenue curve (but not perfectly inelastic).
KylePurpuraLCS 1 month ago
Excellent! Thanks for your response. Best wishes for your continued studies.
KylePurpuraLCS 1 year ago