00:01
Or a completely monopolist market.
00:07
So we don't know which one of these is true for that.
00:12
So think about when a charge is a high price, much higher than the market price.
00:17
Well, if they did that, then they're probably not going to buy the product anymore.
00:21
So i would not, they would, because in the, if in a perfectly competitive market, there'd be other people making the same thing.
00:28
So they couldn't, i wouldn't, they couldn't do that one.
00:31
So a would, i wouldn't call that a, that wouldn't be true.
00:35
We, does not set marginal revenue equal to marginal cost.
00:42
This would be a profit maximization for anything.
00:46
So, but if you set the marginal revenue equal to the marginal cost, it means that we're not missing out on any kind of profit.
00:53
So that's maybe, we'll put that one on hold for now.
00:56
Let's see what the other ones say...