Question
Which of the following is NOT true about a monopoly? a. At profit maximization for a monopoly, AR>MC. b. Profit maximization for a monopoly requires
Which of the following is NOT true about a monopoly?
| a. | At profit maximization for a monopoly, AR>MC. | |
| b. | Profit maximization for a monopoly requires that MC=MR | |
| c. | The quantity and price for a monopoly are determined by the intersection of supply and demand in the market. | |
| d. | Demand is downward sloping and AR>MR. |
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Modern Principles of Economics
Authors: Tyler Cowen, Alex Tabarrok
3rd edition
1429278390, 978-1429278416, 1429278412, 978-1429278393
