Question
1) To maximize profit, a monopolist must: a. maximize the difference between total revenue and total cost. b. maximize the difference between marginal revenue and
1) To maximize profit, a monopolist must:
a. maximize the difference between total revenue and total cost.
b. maximize the difference between marginal revenue and marginal cost.
c. maximize its total revenue.
d. minimize it's total cost.
2) It is optimal for both a competitive firm and a monopolist to produce at the point where MR = MC.
a. True
b. False
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Macroeconomics Principles Applications And Tools
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
7th Edition
978-0134089034, 9780134062754, 134089030, 134062752, 978-0132555234
