A Monopolistic Firm

question 52

Multiple Choice

A monopolistic firm

• A) can sell as much as it wants for any price it determines in the market.
• B) cannot sell additional quantity unless it raises the price on each unit.
• C) chooses an output at which marginal revenue equals marginal cost.
• D) cannot determine the price, which is determined by consumer demand.
• E) will always earn a profit in the long run.

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