Which of the Following Is Not True

question 73

Multiple Choice

Which of the following is not true?

• A)The monopolist, like the perfect competitor, will maximize profits at the output where marginal revenue equals marginal cost.
• B)The monopolist, like the perfect competitor, will maximize profits at the output where price equals marginal cost.
• C)If a monopoly is incurring a loss, it will be eliminated by entry of other firms into the industry.
• D)A monopolist produces at an output where the value to society from the last unit produced is greater than its marginal cost.
• E)A monopolist incurs a loss if the demand is insufficient to cover average total cost.

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Definitions:

Joint

The point at which two bones are connected, allowing for movement and support.

Contracture

An abnormal tightening or shortening, often resulting in a deformity.

Right Ankle

Refers to the joint connecting the foot with the leg on the right side of the body.

Foot

The lower extremity of the leg below the ankle, used for standing and walking.