At its profit-maximizing output, a pure nondiscriminating monopolist achieves:
A. neither productive efficiency nor allocative efficiency.
B. both productive efficiency and allocative efficiency.
C. productive efficiency but not allocative efficiency.
D. allocative efficiency but not productive efficiency.
Answer: A
Economics
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A profit-maximizing monopsonist will hire workers at the point where the marginal factor cost curve intersects the
A. Marginal wage curve. B. Marginal revenue product curve. C. Labor supply curve. D. Equilibrium wage.
Economics
In a monopolistically competitive market with negative economic profits,
A. Firms will enter until accounting profits are zero. B. Firms will exit until economic profits are zero. C. No entry or exit will occur. D. Firms will enter until economic profits are zero.
Economics