Which of the following statements applies to a monopolist but not to a perfectly competitive firm at their profit-maximizing outputs?
A) Average revenue equals average cost. B) Marginal revenue is less than price.
C) Price equals marginal cost. D) Marginal revenue equals marginal cost.
B
Economics
You might also like to view...
If a restaurant was a natural monopoly, its
A) marginal revenue curve would be horizontal. B) marginal revenue curve would be the same as its demand curve. C) marginal cost curve would still be declining when it crossed the demand curve. D) average total cost curve would still be declining when it crossed the demand curve.
Economics
Refer to the table shown. The average variable cost of producing five bicycles per week is:Output(bicycles per week)Total cost (dollars)110022003310444055806730790081,200
A. $116. B. less than or equal to $116. C. greater than or equal to $140. D. $140.
Economics