Which of the Following Is Not True

question 85

Multiple Choice

Which of the following is not true?

• A)The monopolist, like the perfect competitor, will maximize profits at that output where MR = MC.
• B)The monopolist, unlike the perfect competitor, will not maximize profits at that output where P = MC.
• C)If a monopoly is earning economic profits, they will not be eliminated by entry into the industry.
• D)A monopolist produces an output where the value to society from the last unit produced is greater than its marginal cost.
• E)All of the above are true.

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Definitions:

Cones

Photoreceptor cells in the retina of the eye that function best in bright light and enable color vision.

Rods

Photoreceptor cells in the retina of the eye that are extremely sensitive to light and enable vision in low light conditions but do not perceive color.

Cones

Retinal cells known as photoreceptors that operate optimally in well-lit conditions and facilitate the perception of colors.

Wavelengths

The distance between successive peaks of a wave, typically used in the context of electromagnetic waves such as light or sound.