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| Keywords: MonopolyToCompetitive-Transformation-Wiki.jpg en If a Firm may have a Monopoly no Competition in an industry it can control the Supply for the entire Industry in order to ensure a high Price and a Maximum Monopoly Profit However when Competition in the form of other Firms enters into the Market the Competition for Customers forces all firms to both lower the Price they ask for the Product They don't produce beyond the point the Market Price pays for the Cost of the last unit they produce own Mgmwki This is considered General Knowledge amongst all Economists - In Economics Classes in College You can Find this in various forms in any Micro Economics Text Book Journal Article From Various Micro Economics Classes - General Knowledge in Economics show in every beginning level Micro Class You may Find various representations of the same thing in various Micro Economics Books This includes both Graduate Level and Undergraduate Level books as well as some very popular books like the 'Economics for Dummies' book s See Example in Bradley R chiller Essentials of Economics New York McGraw-Hill Inc 1991 Micro Economics Uncategorized 2015 January 10 | ||||
