Which of the Following Is True for a Monopolist but Not

question 44

Multiple Choice

Which of the following is true for a monopolist but not for a perfectly competitive firm?

• A) Marginal revenue is less than price.
• B) Economic profits could be earned in the long run.
• C) Profit maximization occurs at the output level where marginal revenue equals marginal cost.
• D) (a) and (b) are true for a monopolist but not for a perfectly competitive firm.

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Definitions:

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