Which of the Following Is Not True

question 40

Multiple Choice

Which of the following is not true?

• A) The monopolist, like the perfect competitor, will maximize profits at that output where MR = MC.
• B) The monopolist, unlike the perfect competitor, will not maximize profits at that output where P = MC.
• C) If a monopoly is earning economic profits, they will not be eliminated by entry into the industry.
• D) A monopolist produces an output where the value to society from the last unit produced is greater than its marginal cost.

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Definitions:

Favorite Actress

A term denoting a personal preference towards a female actor, based on aspects like talent, roles performed, or personal appeal.

Persuade

To induce someone to do or believe something through reasoning or argument.

Toothpaste

A paste or gel used with a toothbrush to clean and maintain the aesthetics and health of teeth.

Peripheral Route

An aspect of the elaboration likelihood model suggesting that attitudes can change in response to cues that are peripheral to the content of the message, such as the source's attractiveness or credibility.