Which of the following is TRUE about a perfect price discriminating monopolist?
A) Price is greater than marginal revenue.
B) Price always exceeds marginal cost.
C) The firm makes zero economic profit.
D) The firm produces the efficient level of output.
D
Economics
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The cost to a firm of producing one more unit of output
A) usually exceeds the firm's price. B) is significantly less than the firm's price for purely competitive firms operating in long-run equilibrium. C) usually equals the firm's price for monopolistically competitive firms. D) is the firm's marginal cost.
Economics
The profit-maximizing monopolist will never operate in a price range over which
A. P > MC. B. demand is inelastic. C. P > MR. D. the demand curve slopes downward.
Economics