Which of the Following Is True of the Profit Earned

question 96

Multiple Choice

Which of the following is true of the profit earned by a monopolist?​

• A)Profit is maximized where marginal cost equals marginal revenue.
• B)Normal profit is ensured where price is equal to average total cost.
• C)Normal profit is ensured where marginal cost exceeds average revenue.
• D)Profit is maximized along the inelastic portion of the demand curve.
• E)Economic profit is made where average variable cost equals marginal revenue.

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Definitions:

Economic Inequality

The unequal distribution of income and opportunity between different groups in society.

Appearance

The way that someone or something looks to others, often emphasizing physical aspects such as clothing, grooming, and body shape.

Authority

The power or right to give orders, make decisions, and enforce obedience.

Occupation

A person's profession or main source of income, often reflecting their skills, training, and interests.