The no-trade equilibrium in a monopolistic market occurs where:
a. marginal revenue = price.
b. marginal cost = marginal revenue.
c. market demand = market supply.
d. marginal cost = average revenue.
Answer: b. marginal cost = marginal revenue.
Economics
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A) actual real GDP may be less than or more than potential GDP. B) the unemployment rate is zero. C) by definition, the economy is always moving away from full employment. D) actual real GDP always equals potential GDP.
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