-Which of the Following Is True for a Profit Maximizing

question 223

Multiple Choice

-Which of the following is true for a profit maximizing monopolist?

• A) Marginal cost is always less than average total cost.
• B) In the long run, the firm's economic profit equals zero.
• C) In the short run, the firm will shut down if its marginal cost is less than its average variable cost.
• D) In the short run, the firm can make an economic profit even if its marginal cost is less than its average variable cost.

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Definitions:

Machiavellianism

A lack of empathy and a willingness to exploit others.

Chocolate Cake Model

The tendency of a relationship with a narcissist to start positively but end very negatively.

Narcissist

A person with an excessive preoccupation with or admiration of themselves, often associated with a lack of empathy for others and a need for admiration.

Relationship

a connection, association, or involvement between people, whether personal, social, or professional.