A pure monopoly most likely results in productive inefficiency because at the profit-maximizing  level of output ________.

A. MC is not at its minimum level
B. P is greater than AVC
C. ATC is not at its minimum level
D. MR is not zero

Answer: C

Economics

You might also like to view...

The figure above shows the cost, marginal revenue, and demand curves of Golden Chow, a producer of dog food. The market for dog food is monopolistic competition. In the short run, Golden Chow sells 400 cans of dog food per day and makes ________

Other firms have ________ incentive to enter the industry. A) an economic profit of $200 a day; an B) an economic profit of $400 a day; an C) a normal profit of $200 a day; no D) an economic profit of $400 a day; no

Economics

Explain the difference between a change in supply and a change in quantity supplied

What will be an ideal response?

Economics