Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 13 - Monopolistic Competition and Oligopoly - Discussion Questions - Page 302: 11


The answer is below.

Work Step by Step

Improving one's product and advertising are beneficial for companies that have monopolies if they look to make a profit. After all, even if you have a monopoly over an industry, you want to stir up demand so you can sell things for the highest price in the highest quantity possible.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.