The Monopolist's Outcome in the Long Run Differs from That

question 34

Multiple Choice

The monopolist's outcome in the long run differs from that of the perfectly competitive firm in that the monopolist:

• A)earns zero profits.
• B)charges a price that is higher than average total costs.
• C)charges a price where marginal cost equals average revenue.
• D)charges a price equal to marginal cost.

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Definitions:

Korotkoff Sounds

Sounds heard through a stethoscope during the measurement of blood pressure with a sphygmomanometer, used to determine systolic and diastolic pressures.

Stethoscope

A medical instrument used for listening to the internal sounds of the body, such as heartbeats and lung sounds.

Posterior Abdominal Wall

The area at the back of the abdominal cavity, bounded by the vertebral column, pelvic girdle, and diaphragm, supporting and protecting internal organs.

Inferior Vena Cava

A large vein that carries deoxygenated blood from the lower and middle parts of the body to the right atrium of the heart.