If a Monopoly Is Maximizing Profits

question 23

Multiple Choice

If a monopoly is maximizing profits,

• A)price will always be greater than the elasticity of demand.
• B)price will always equal marginal cost.
• C)price will always be greater than marginal cost.
• D)price will always equal marginal revenue.

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Definitions:

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The legal process of resolving disputes between individuals or entities in civil courts, involving non-criminal matters.

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Legal actions brought in court, typically by one party against another, to enforce or defend a legal right or claim.

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The court’s final decision regarding the rights and claims of the parties to a lawsuit.