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Author Question: A profit-maximizing monopoly will produce that output for which a. marginal revenue equals price. ... (Read 63 times)

Marty

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on: Jul 1, 2018
A profit-maximizing monopoly will produce that output for which
 a. marginal revenue equals price.
  b. average cost is minimized.
  c. marginal cost is minimized.
  d. marginal cost equals marginal revenue.

Question 2

A natural monopoly
 a. is a monopoly in the production of raw materials.
  b. occurs when one firm can supply the entire market more cheaply than can a number of firms.
  c. is one result of a patent.
  d. results from decreasing returns to scale.


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frankwu0507

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Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

b


Marty

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

cpetit11

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Reply 3 on: Yesterday
Excellent

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