Which of the Following Is True of a Monopolist in the Long

question 21

Multiple Choice

Which of the following is true of a monopolist in the long run?

• A)The firm will charge a price that is higher than long-run marginal cost.
• B)The firm will charge a price that is equal to or greater than long-run average cost.
• C)The firm will produce that level of output at which long-run average cost is minimum.
• D)both a and b
• E)both b and c

---

Definitions:

Endocrine System

A network of glands in the body that secrete hormones directly into the circulatory system to regulate the body's growth, metabolism, and sexual development and function.

Hormones

Chemical messengers produced by glands in the body, which travel through the bloodstream to regulate various physiological processes and behaviors.

Bloodstream

The flowing blood within the circulatory system of the body, carrying oxygen and nutrients to cells and removing waste products.

Glial Cells

Non-neuronal cells in the brain and central nervous system that support, protect, and provide a support framework for neurons.