Which of the following statements about a monopolist is least accurate
A: A profit-maximizing monopolist will expand output until marginal revenue equals marginal cost.
B: A profit-maximizing monopolist will supply less of his product than the amount consistent with the conditions of ideal static efficiency for an economy.
C: A monopolist will always be able to earn economic profit.
A: A profit-maximizing monopolist will expand output until marginal revenue equals marginal cost.
B: A profit-maximizing monopolist will supply less of his product than the amount consistent with the conditions of ideal static efficiency for an economy.
C: A monopolist will always be able to earn economic profit.
举一反三
- Which of the following statements about a monopolist is least accurate（） A: The monopolist faces a downward sloping demand curve. B: Unlike an oligopolist, a monopolist will always be able to earn economic profit. C: A profit-maximizing monopolist will expand output until marginal revenue equals marginal cost.
- Which of the following statements regarding a monopolist is most accurate A: A monopolist will maximize the average profit per unit sold. B: If a firm has a monopoly, it will always be able to earn economic profits. C: A monopolist, like any other profit-maximizing firm, will sell at the output level where marginal revenue equals marginal cost.
- For a profit maximizing monopolist, price:
- Which of the following statements about monopolies is most accurate（） A: A monopolist’s optimal production quantity is at the point where marginal revenue equals marginal cost. B: Monopolists charge the highest possible price. C: Monopolists always make a profit.
- To maximize profit, the monopolist produces on the ________ portion of the demand curve where ________. A: elastic; price equals marginal cost B: elastic; marginal revenue equals marginal cost C: inelastic; price equals marginal revenue D: inelastic; marginal revenue equals marginal cost