To maximize profit, a pure monopolist must

a. maximize its total revenue

b. maximize the difference between total revenue and total cost

c. maximize the difference between marginal revenue and marginal cost

d. produce where average total cost is at a minimum

for the monopoly, economic profit in the long run is

a. impossible for a pure monopolis

b. only possible when barriers to entry are nonexistent

c. guaranteed for a pure monopoly

d. possible for a pure monopoly but not guaranteed