![mr monopoly mr monopoly](https://vignette.wikia.nocookie.net/monopoly/images/4/44/Bay-Monopoly-2.jpg)
In a monopoly, the output will be QM and PM – causing a fall in consumer surplus.
#Mr monopoly Pc#
![mr monopoly mr monopoly](https://static.turbosquid.com/Preview/001157/355/6X/3D-mr-monopoly-model_0.jpg)
In the short run, firms in competitive markets and monopolies could make supernormal profit. Usually, supernormal profit attracts new firms to enter the market, but there are barriers to entry in monopoly, and this enables the monopoly to keep supernormal profits.ĭifference between monopoly and competitive markets in the long-run.This diagram shows how a monopoly is able to make supernormal profits because the price (AR) is greater than AC.
![mr monopoly mr monopoly](https://images.fineartamerica.com/images/artworkimages/mediumlarge/3/mr-monopoly-art-sledjee.jpg)