Which of the Following Is True for the Monopolist

question 100

Multiple Choice

Which of the following is true for the monopolist?

• A)Marginal revenue is equal to the price charged.
• B)Economic profit is always zero in the long run.
• C)Profit-maximising occurs when marginal revenue is greater than the marginal cost.
• D)Loss-maximising occurs when marginal revenue is equal to the marginal cost.

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Definitions:

Inevitability

The quality of being certain to happen; an unavoidable event or outcome.

Extended Contact

A theory that suggests indirect contact with an outgroup member through a third party can reduce prejudice and improve intergroup relations.

Virtual Contact

Virtual contact refers to interactions between individuals or groups that occur through digital platforms or technologies, without physical presence, facilitating communication across distances.

Hypothesis

A proposed explanation for a phenomenon, made as a starting point for further investigation, that can be tested through experimentation and observation.