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:

Investment

The action of allocating resources, usually money, with the expectation of generating an income or profit, often through the purchase of assets that are expected to increase in value.

Private Saving

The portion of individual or household income that is not consumed or taxed, often saved or invested for future use.

National Saving

The total of private and public savings in a country, representing the portion of national income not consumed or spent by the government.

Closed Economy

A type of economic system where a country does not engage in trade with other countries, aiming to be self-sufficient.