A Profit-Maximizing Monopolist Will Maximize Both Total Revenue and Economic

question 58

Multiple Choice

A profit-maximizing monopolist will maximize both total revenue and economic profit at the same price when _____,given that there are no fixed costs.

• A)the marginal cost curve is upward-sloping
• B)demand is perfectly inelastic
• C)marginal cost is zero
• D)marginal revenue is an increasing function of quantity produced

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Definitions:

Nature of the Act

This refers to the intrinsic characteristics or the essential features of an action, often discussed in legal, philosophical, or psychological contexts.

Civil Commitment

A legal process through which an individual is ordered by a court to undergo mental health treatment, often due to being a danger to themselves or others.

Addington v. Texas

A landmark legal case that set the standard for involuntary commitment for mental health treatment, requiring "clear and convincing" evidence for such action.

Level of Proof

The extent or strength of evidence required to prove a claim or hypothesis, often used in legal and scientific contexts.