How can I achieve a top grade?

Economics is all about models involving assumptions and diagrams. So whenever you're answering a question, you must identify the assumptions relating to it, draw a diagram illustrating your argument and give a detailed explaination of the diagram. Top mark answers will further include examples and evaluation of the economic theories and policies.

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Answered by Selma Y. Economics tutor

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Explain why a profit-maximizing monopolist would never choose to operate on the inelastic portion of its demand curve


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