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Pastimes : Austrian Economics, a lens on everyday reality
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To: Wildstar who wrote (316)11/18/2003 1:52:15 AM
From: Don Lloyd  Read Replies (1) of 445
 
Wildstar,

This gets more and more confusing.

1)I can see how the marginal seller of the consumer good is the monopolist seller. After all, he is the *only* seller. However, how do we know that the marginal buyer buys at the max revenue price?

I didn't say this. In the case of the consumer good monopoly, the question of marginal sellers and buyers doesn't come up. The monopolist sets the price for his own benefit, to maximize revenue. Everyone buys at this price.

2)I thought we were talking about consumer goods for max revenue price, not factors of production?

I thought so too. You brought up marginal buyers and sellers and THAT brings in factor prices.

Regards, Don
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