Which of the Following Statements Regarding a Monopolist's Profit Maximizing

question 30

Multiple Choice

Which of the following statements regarding a monopolist's profit maximizing condition is false?

• A)The monopolist's profit-maximizing price will be greater than marginal cost for the last unit supplied.
• B)A monopolist can earn positive economic profit.
• C)Because monopoly price is above marginal cost and a monopoly earns positive economic profit, there are no benefits to consumers in the monopoly market.
• D)Price equals average revenue at the profit-maximizing quantity of output.

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Definitions:

Plan Activities

involves organizing tasks or events in advance to achieve specific goals or objectives.

Monitor

To observe, check, or keep under continuous review over a period of time.

Proximal Goals

Short-term objectives or milestones that are set to achieve a larger goal, helping to create a sense of achievement and momentum.

Self-efficacy

The belief in one's own ability to succeed in specific situations or accomplish a task.