Which of Following Is True of Monopoly and Not of Perfect

question 76

Multiple Choice

Which of following is true of monopoly and not of perfect competition?

• A)Profit is maximized where marginal cost equals marginal revenue
• B)The industry demand curve is also the firm's demand curve
• C)Normal profits are made only if average total cost equals average revenue
• D)Profit is maximized in the elastic portion of the demand curve
• E)the firm has no control over the market price

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