At the Profit-Maximizing Level of Output,price Is ________ Marginal Cost

question 62

Multiple Choice

At the profit-maximizing level of output,price is ________ marginal cost for a perfectly competitive firm and price is ________ marginal cost for a monopolist.

• A) equal to; greater than
• B) equal to; less than
• C) equal to; equal to
• D) greater than; equal to

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Definitions:

Serial Entrepreneur

An individual who continuously comes up with new ideas and starts new businesses, rather than staying to manage one business for a long period.

Work Hours

The designated periods during which employees are expected to perform their job duties.

Life Control

The extent to which individuals feel they have control over their own life circumstances and outcomes.

Serial Entrepreneur

An individual who continuously comes up with new ideas and starts new businesses, rather than committing to one long-term project.