Which of the Following Is False

question 45

Multiple Choice

Which of the following is false?

• A)Profit is maximized when MR = MC for both monopolies and perfect competition firms
• B)Monopolies profit maximize and perfect competitive firms output maximize
• C)Both monopolies and perfect competition firms earn zero profit in the long run
• D)At equilibrium, price is higher than marginal cost for monopolies but not for competitive firms

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Total Receipts

The aggregate amount of cash or cash-equivalents received by a company during a given period.

Sales Tax Rate

The percentage of sales price that is added to the sale of goods and services, to be collected by the seller and passed on to the government.

Total Receipts

The total amount of money received by a company during a particular period from all sources.

Unearned Subscription Revenue

Unearned subscription revenue is a liability that represents payments received from customers for services yet to be delivered.