Which of the Following Is Not True for a Profit

question 25

Multiple Choice

Which of the following is not true for a profit maximizing single-price monopolist in the long run?

• A)It will make profit or break even.
• B)Price is greater than marginal revenue.
• C)Marginal revenue equals marginal cost.
• D)Demand is inelastic.

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Definitions:

Irreplaceable

Describes someone or something so unique and valuable that they cannot be substituted or duplicated.

Work Performed

The tasks or duties carried out by an individual or group in a job, profession, or project.

Influence Attempt

Efforts made by individuals or groups to affect or change the behavior, attitudes, or perceptions of others in a specific way.

Duty

An obligation or responsibility expected of an individual or entity.