In the Long Run, Profit-Maximizing Monopolists Facing a Downward-Sloping Demand

question 122

Multiple Choice

In the long run, profit-maximizing monopolists facing a downward-sloping demand curve

• A)may earn profits greater than their opportunity costs of capital.
• B)do not produce every possible unit of output for which marginal utility is greater than or equal to marginal cost.
• C)may or may not have lower costs than perfectly competitive firms in the same industry.
• D)All of the above are correct.

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