Which of the following statements applies to a monopolist but not to a perfectly competitive firm at their profit-maximizing outputs?
A) Average revenue equals average cost. B) Marginal revenue is less than price.
C) Price equals marginal cost. D) Marginal revenue equals marginal cost.
Question 2
The network of devices directly communicating data to a computer without a person having to enter the data is known as
A) the Internet of Things. B) Big Data.
C) Synergistic Communications. D) Artificial Intelligence.
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