Which Statement Is TRUE

question 50

Multiple Choice

Which statement is TRUE?

• A)A monopoly firm is a price taker.
• B)MR > P if the demand curve is downward sloping.
• C)MR = MC is a profit-maximizing rule for any firm.
• D)In monopoly,P = MC when profits are maximized.

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Definitions:

Jam Nut

A type of thin nut used to lock another nut by being tightened against it, mainly in situations where vibration might loosen the nuts.

Kingpin

A central pivot in the steering mechanism of a vehicle, crucial for the steering system.

Snap Rings

Retaining rings inserted into a groove to hold components in assembly, often used in mechanical devices to secure parts in place.

Steering Knuckle Assembly

The steering knuckle assembly is a pivotal component in a vehicle's steering system, connecting the wheel and tire to the suspension system.