For a profit-maximizing monopolist
A) P > MC.
B) P = MC.
C) P = MR.
D) P = ATC.
Answer: A
Economics
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If China has domestic assets of $50 billion, domestic liabilities of $100 billion, and $50 billion in foreign assets, a 10% appreciation of the Chinese yuan will:
A) cause the Chinese domestic assets to increase in value. B) cause the Chinese domestic liabilities to decrease in value. C) cause the overall wealth to decrease by 5%. D) cause the overall wealth to increase by 5%.
Economics
Free riding is not a problem in the market for a private good because
A) people who do not pay for the good can be excluded from consumption. B) the good is a rival good. C) the market eliminates the problem of externalities. D) The question errs because free riding is a problem in providing private goods.
Economics