With average cost pricing, the monopolist
A) earns no accounting profit.
B) produces where P = MC.
C) earns a normal rate of return for its shareholders.
D) does not cover opportunity costs.
C
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If the government were to intervene and set the rent for apartments in New York City below the market rent, then we would expect, relative to the market outcome,
a. an increase in the number of people wanting to live in apartments in New York City. b. a decrease in the number of people wanting to live in apartments in New York City. c. an increase in the number of apartments available for rent in New York City. d. None of the above is correct.
Aggregate supply can usually be increased as workers
A. work smarter, better and more efficiently when provided with better, education, tools, and technology. B. work smarter, better, and more efficiently. C. work harder. D. are provided with better education, tools, and technology.