Which of the Following Statements Applies to a Monopolist but Not

question 238

Multiple Choice

Which of the following statements applies to a monopolist but not to a perfectly competitive firm at their profit maximising outputs?

• A)Marginal revenue is less than price.
• B)Marginal revenue equals marginal cost.
• C)Price equals marginal cost.
• D)Average revenue equals average cost.

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Definitions:

Rationalization

Psychological defense mechanism in which a person invents acceptable excuses for unacceptable behavior.

Defense Mechanisms

Unconscious psychological strategies used to cope with reality and protect the ego from anxiety.

Freud

An Austrian neurologist named Sigmund Freud created psychoanalysis, a therapeutic approach that treats mental illnesses by facilitating discussions between a patient and a psychoanalyst.

Superego

A component of Freud's psychoanalytic theory of personality, representing the moral conscience and ideal standards imposed by society and parents.