Refer to the graph shown. If this monopolist were forced to set price equal to marginal cost, in the long run it probably would:
A. charge a price of $3.
B. charge a price of $12.00.
C. charge a price of $2.
D. stop producing.
Answer: D
Economics
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The function of money that helps assess the opportunity cost of an activity is money's use as a
A) barter tool. B) store of value. C) medium of exchange. D) store of debt. E) unit of account.
Economics