Monopoly Profit Maximization: Success and Economic Principles
K. von Blanckenburg, M. Neubert, Economics Research International (2015) 1–10.
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von Blanckenburg, KorbinianELSA;
Neubert, Milena
Abstract
This paper presents a classroom experiment on pricing strategies available to monopolists. Each student makes production decisions as a monopolist during the experiment, learning from his/her own experiences what it means to be a price searcher. Full information is provided on cost conditions, while the demand function remains unknown to the participants. Given a sufficient number of periods, students will in principle be able to maximise their profits by applying a simple trial and error strategy. However, one of the objectives of the experiment is to demonstrate to students that search strategies based on economic principles are more efficient.</jats:p>
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Economics Research International
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1-10
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von Blanckenburg K, Neubert M. Monopoly Profit Maximization: Success and Economic Principles. Economics Research International. 2015:1-10. doi:10.1155/2015/875301
von Blanckenburg, K., & Neubert, M. (2015). Monopoly Profit Maximization: Success and Economic Principles. Economics Research International, 1–10. https://doi.org/10.1155/2015/875301
von Blanckenburg K and Neubert M (2015) Monopoly Profit Maximization: Success and Economic Principles. Economics Research International 1–10.
Blanckenburg, Korbinian von, and Milena Neubert. “Monopoly Profit Maximization: Success and Economic Principles.” Economics Research International, 2015, 1–10. https://doi.org/10.1155/2015/875301.
von Blanckenburg, Korbinian und Milena Neubert. 2015. Monopoly Profit Maximization: Success and Economic Principles. Economics Research International: 1–10. doi:10.1155/2015/875301, .
von Blanckenburg, Korbinian ; Neubert, Milena: Monopoly Profit Maximization: Success and Economic Principles. In: Economics Research International. New York, NY , Hindawi Publ. Corp. (2015), S. 1–10
K. von Blanckenburg, M. Neubert, Monopoly Profit Maximization: Success and Economic Principles, Economics Research International. (2015) 1–10.
K. von Blanckenburg and M. Neubert, “Monopoly Profit Maximization: Success and Economic Principles,” Economics Research International, pp. 1–10, 2015.
von Blanckenburg, Korbinian, and Milena Neubert. “Monopoly Profit Maximization: Success and Economic Principles.” Economics Research International, Hindawi Publ. Corp., 2015, pp. 1–10, doi:10.1155/2015/875301.
von Blanckenburg, Korbinian/Neubert, Milena (2015): Monopoly Profit Maximization: Success and Economic Principles, in: Economics Research International, S. 1–10.
von Blanckenburg K, Neubert M. Monopoly Profit Maximization: Success and Economic Principles. Economics Research International. 2015;1–10.
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