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Author Question: Which of the following is true for a monopolist but not for a perfectly competitive firm? a. ... (Read 60 times)

tiffannnnyyyyyy

  • Hero Member
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  • Posts: 512
on: Jun 30, 2018
Which of the following is true for a monopolist but not for a perfectly competitive firm?
 a. Marginal revenue is less than price.
 b. Economic profits could be earned in the long run.
 c. Profit maximization occurs at the output level where marginal revenue equals marginal cost.
  d. (a) and (b) are true for a monopolist but not for a perfectly competitive firm.

Question 2

If the average costs of production decline with increases in output, then the larger a firm is, the lower its per unit costs will be.
 a. True
  b. False
  Indicate whether the statement is true or false


kilada

  • Sr. Member
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  • Posts: 311
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

True


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