If a Firm Is a Monopolist in Its Output Market

question 40

Multiple Choice

If a firm is a monopolist in its output market and a competitor in an input market, its input bundle will be chosen so that:

• A)VMP is not equal MRP for that input.
• B)VMP = MRP for that input.
• C)VMP > MRP for that input.
• D)VMP < MRP for that input.

---

Definitions:

Grandiose Delusion

A false belief of having superior qualities such as genius, wealth, or omnipotence.

Somatic Delusion

A false belief about one's body or health that cannot be corrected by reasoning.

Schizophrenia

A long-term mental disorder characterized by a breakdown in the relation between thought, emotion, and behavior, leading to faulty perception and inappropriate actions.

Persecutory Delusion

A false belief that one is being pursued, harassed, or conspired against by others.