For a Monopolist That Produces in the Short Run and Does

question 171

Multiple Choice

For a monopolist that produces in the short run and does not price discriminate, price always has to be

• A)equal to marginal cost at the profit-maximizing quantity
• B)equal to marginal revenue at the profit-maximizing quantity
• C)greater than marginal cost at the profit-maximizing quantity
• D)less than marginal cost at the profit-maximizing quantity
• E)less than marginal revenue at the profit-maximizing quantity

---

Definitions:

Zero-Tolerance Policy

A strict enforcement policy with predetermined punishments for certain offenses, without allowance for discretion or consideration of circumstances.

Moral Reasoning

The process by which individuals make decisions about what is right and wrong, based on personal, societal, or ethical standards.

Kohlberg's Theory

A theory of moral development proposed by Lawrence Kohlberg, suggesting that individuals progress through a series of stages in understanding and reasoning about moral issues.

Conventional

Relating to or based on norms, standards, or practices that are widely accepted and followed.