To Maximize Profits, a Monopoly Produces at ____ and a Competitive

question 120

Multiple Choice

To maximize profits, a monopoly produces at ____ and a competitive firm produces at ____.

• A)price equal to marginal cost; price equal to marginal cost
• B)price equal to average cost; price equal to marginal cost
• C)marginal revenue greater than marginal cost; price greater than marginal cost
• D)marginal revenue equal to marginal cost; price equal to marginal cost
• E)marginal revenue equal to average revenue; price greater than marginal revenue

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Definitions:

Corporate Philanthropy

The act of a corporation donating some of its profits or resources to charitable causes.

Hurricane

A powerful tropical storm characterized by a low-pressure center, strong winds, and a spiral arrangement of thunderstorms that produce heavy rain.

Discrimination

Biased treatment of a job candidate or employee.

Biased Treatment

Differential and unjust treatment of individuals or groups based on prejudiced attitudes or judgments rather than objective merit.