Which of the Following Statements Is False

question 141

Multiple Choice

Which of the following statements is false?

• A)For a monopolist, the law of diminishing marginal returns does not hold.
• B)A monopoly firm will earn profit if it produces the quantity of output at which MR = MC, and charges a price that is above its average total cost.
• C)The monopolist firm searches for the highest per-unit price it can charge for the quantity of output it produces.
• D)The highest per-unit price a monopoly firm can charge is determined by the height of its demand curve.

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Definitions:

Breach of Contract

The act of not executing any part of a contract, be it written or oral, without an acceptable legal excuse.

Contract

A legally binding agreement between two or more parties, which outlines obligations and rights related to a particular arrangement or deal.

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A mechanical device that automates the process of weaving textiles, reducing manual labor and increasing production efficiency.

Finance Company

A business that provides loans to individuals or companies, typically specializing in areas such as consumer finance, leasing, and commercial lending.