Equilibrium in a monopoly occurs when:
a. the monopolist has driven out all competitors.
b. the monopoly firm has sold the maximum number of units.
c. the monopoly firm produces the quantity that maximizes its profits (or minimizes loss) where MR = MC.
d. the monopoly firm has gotten unions to agree to wage concessions.
Ans: c. the monopoly firm produces the quantity that maximizes its profits (or minimizes loss) where MR = MC.
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The Breton Woods System was an agreement that:
A. required each participating country to abolish all trade barriers. B. required each participating country to stay on the gold standard. C. standardized tariffs across all participating countries. D. required each participating country to peg their currency to the U.S. dollar.
Wich of the following indiviuals can be counted as Unemployed?
What will be an ideal response?