Re: JNU-Monopoly-2008

Posted by Ashish Gourav on May 13, 2015; 3:43pm
URL: http://discussion-forum.276.s1.nabble.com/JNU-Monopoly-2008-tp7596922p7596928.html

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MR = P ( 1 - 1/ mod e ) = MC is the formula derived after substituting the value of elasticity into the profit function.

Maximising the profit function is the more general approach. The elasticity formula is a special case, a shortcut

Correct me if I am wrong.