Which of the Following Statements Is FALSE

question 355

Multiple Choice

Which of the following statements is FALSE?

• A) An unregulated, profit-maximizing monopolist will not operate in the inelastic portion of the demand curve.
• B) The marginal revenue earned by a monopolist will always be less than the product's price.
• C) Typically there are numerous very close substitutes for the product of a monopolist.
• D) For a profit-maximizing monopolist, marginal revenue equals marginal cost.

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