Which of the Following Statements Is Correct

question 64

Multiple Choice

Which of the following statements is correct?

• A)If the monopolist's marginal revenue is greater than its marginal cost, the monopolist can increase profit by selling more units at a lower price per unit.
• B)If the monopolist's marginal revenue is greater than its marginal cost, the monopolist can increase profit by selling fewer units at a higher price per unit.
• C)When a monopolist produces where price equals the minimum of average total cost, it earns a positive economic profit.
• D)If the monopolist is earning a positive economic profit, it must be producing where MR = MC.

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Definitions:

Piaget

A Swiss psychologist known for his pioneering work in child development, particularly regarding cognitive development and learning theories.

Sensorimotor Need

The requirement for interaction and feedback from the environment to develop and refine motor skills and perceptions.

Self-Stimulation

The action of stimulating oneself, especially in the context of learning or exploring one's own body.

Sensorimotor Stage

The first stage in Piaget's theory of cognitive development, where infants learn through interacting with their environment using senses and motor actions.