Which of the Following Statements Is Correct for a Monopolist

question 62

Multiple Choice

Which of the following statements is correct for a monopolist?
i.The firm maximizes profits by equating marginal revenue with marginal cost.
ii.The firm maximizes profits by equating price with marginal cost.
iii.Demand equals marginal revenue.
iv.Average revenue equals price.

• A)i),iii),and iv)only
• B)i)and iv)only
• C)i),ii),and iv)only
• D)i),ii),iii),and iv)

Identify situations that constitute a breach of fiduciary duty by an agent.

Comprehend the implications of conflict of interest in agency relationships.

Distinguish between independent contractors and agents, and their respective roles and legal implications.

Recognize the conditions under which an agency relationship can be terminated or altered.

---

Definitions:

Ulna

One of the two long bones in the forearm, extending from the elbow to the smallest finger, and when in anatomical position, is located on the inner aspect of the forearm.

Femur

The longest and strongest bone in the human body, extending from the hip to the knee.

Fibula

A long, thin bone of the lower leg, situated lateral to the tibia.

Tarsals

A group of seven articulating bones found in the rear part of the foot, making up the ankle and the arch, playing a key role in movement and weight bearing.