令人不快的事实是：作为基础货币垄断生产商的央行，有能力强行实施他们希望在信贷市场所看到的任何市场收益产量水平。

The uncomfortable truth is this: central Banks, as monopoly producers of base money, have the capacity to enforce any yield level they wish to see in credit markets.

youdao

这样，垄断者将选择生产当边际收益与边际成本相同时的产量qm。 然后向市场收取那个产量下市场能够承受的最大价格p(qm)。

Thus, a monopoly chooses a quantity qm where marginal revenue equals marginal cost, and charges the maximum price p(qm) the market will bear at that quantity.

youdao

其价值形成有三个方面：行业优势和价值转换、垄断经营的超额收益和风险回报。

The value of business concession Consists of industry superiority, value transformation, extra earning of monopoly operation and risk premium.

youdao

So if Pepsi is dumb enough to price above monopoly, sure I will undercut Pepsi but I won't undercut Pepsi by a penny, I'll undercut Pepsi all the way down to the monopoly price and make monopoly profits.

如果百事笨到把价格设的高于垄断价格,我当然要定价比百事低,但不是低一点,我要把价格设得比百事低直至垄断价格,并获取垄断收益

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