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:

Subordinates

Individuals who report to a higher authority or are lower in rank within an organizational hierarchy.

Lunch Schedule

A prearranged timetable for when lunch breaks occur within an organization, school, or institution.

Vroom, Yetton, Jago DECISION-MAKING Model

A situational leadership model that outlines how leaders can make effective decisions by evaluating the importance of the decision, the necessity of quality, and the acceptance of others.

Authority Decisions

relate to choices or judgments made by individuals or bodies holding power or command within an organization.