In this video, I give a non-calculus-based justification for why a monopoly prices on the elastic portion of the demand curve. The intuition is useful to understand why a monopoly never finds it optimal to price on the inelastic portion of the demand curve. For a list of videos and links to these videos (organized by topic), check out the Intromediate Microeconomics video web page: http://blog.thisyoungeconomist.com/p/learn-microeconomics.html
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