Multiple Choice
Figure 11-5 
-What is true for both a monopolist and a perfect competitor?
A) Both maximize profits by producing where MR = MC.
B) Both have prices that are greater than marginal revenue
C) Both minimize average total cost.
D) Both face downward-sloping demand curve.
Correct Answer:
Verified
Correct Answer:
Verified
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Q74: Figure 11-7 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8592/.jpg" alt="Figure 11-7
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Q76: Figure 11-5 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8592/.jpg" alt="Figure 11-5
Q77: Figure 11-7 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8592/.jpg" alt="Figure 11-7
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