Which statement is true?
A. Since the monopolist is the only firm in the industry, its profit is calculated differently from the way a perfect competitor would calculate profit.
B. The monopolist's demand curve and marginal revenue curve are the same line.
C. In the long run under monopoly, the most efficient output is the most profitable output.
D. A monopolist may lose money in the short-run.
D. A monopolist may lose money in the short-run.
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Mercantilists believed that a country gains from international trade only at the expense of another country or countries.
Answer the following statement true (T) or false (F)
Table 25.2Pool SweeperOutput (Revenue)Market Share (%)North Star$20,000 Hurricane$16,000 Blue Lagoon$2,000 Clean Sweep$2,000 Refer to Table 25.2. Assume there are only four firms in the pool sweeper industry. What is the market share for Blue Lagoon?
A. 50 percent. B. 20 percent. C. 5 percent. D. 10 percent.