In the Long Run in Monopoly

question 6

Multiple Choice

In the long run in monopoly:

• A) Only normal profits are made.
• B) Abnormal profits can be made.
• C) Firms produce where price equals marginal cost.
• D) Firms produce where average cost equals average revenue.

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Definitions:

Weights

Objects used for resistance training or as a measure; often made of metal or other heavy materials to add resistance for strength training or to ensure accurate measurements.

Scatterplot

A graphical representation using dots to show the relationship between two variables, with one variable's values along the x-axis and the other's along the y-axis.

Histogram

A graphical representation of the distribution of numerical data designed to display the frequency of data points within specified intervals.

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