Which of the Following Statements Is Correct for Both a Monopolist

question 168

Multiple Choice

Which of the following statements is correct for both a monopolist and a perfectly competitive firm? i) The firm maximizes profits by equating marginal revenue with marginal cost.
Ii) The firm maximizes profits by equating price with marginal cost.
Iii) Demand equals marginal revenue.
Iv) Average revenue equals price.

• A) i), iii), and iv) only
• B) i) and iv) only
• C) i), ii), and iv) only
• D) i), ii), iii), and iv)

---

Definitions:

Africa

A continent rich in cultural diversity, natural resources, and history, often noted for its significant socio-economic and political diversity.

Nuclear Weapon

A weapon of mass destruction that utilizes nuclear reactions, either fission or a combination of fission and fusion, to generate an explosion with devastating effects.

Tacit Approval

Implicit consent or agreement without direct acknowledgment or expression.

United States

A country located primarily in North America, consisting of 50 states, a federal district, five major self-governing territories, and various possessions.