Which of the Following Statements Is FALSE

question 355

Multiple Choice

Which of the following statements is FALSE?

• A) An unregulated, profit-maximizing monopolist will not operate in the inelastic portion of the demand curve.
• B) The marginal revenue earned by a monopolist will always be less than the product's price.
• C) Typically there are numerous very close substitutes for the product of a monopolist.
• D) For a profit-maximizing monopolist, marginal revenue equals marginal cost.

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Definitions:

Good Marketing

Strategies and tactics used by companies to promote, sell, and distribute a product or service effectively to the target customers.

Random Activity

An action or series of actions taken without a specific plan, pattern, or purpose, often leading to unpredictable outcomes.

Sales-oriented

A business approach that prioritizes selling products and services as its primary objective, often focusing on high sales volume and short-term outcomes.

Great Depression

Refers to a severe worldwide economic downturn that took place during the 1930s, marked by widespread unemployment and financial hardship.