Which of the following statements about monopolies is most accurate?
A: Monopolists charge the highest possible price.
B: A monopoly structure is characterized by a well-defined product for which there are no good complements.
C: A monopolist's optimal production quantity is at the point where marginal revenue equals marginal cost.
A: Monopolists charge the highest possible price.
B: A monopoly structure is characterized by a well-defined product for which there are no good complements.
C: A monopolist's optimal production quantity is at the point where marginal revenue equals marginal cost.
举一反三
- 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.
- Monopolists will maximize profit by producing at an output level where which of the following conditions exists（） A: Price = marginal revenue = marginal cost. B: Price = demand = marginal revenue = marginal cost. C: Marginal revenue = marginal cost ＜ price.
- 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.
- 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.
- In short run the shutdown point is that point at which A: price equals marginal cost. B: average fixed cost equals marginal cost. C: average variable cost equals marginal cost. D: average total cost equals marginal cost.