In the Long Run, Profit-Maximizing Monopolists Facing a Downward-Sloping Demand

Multiple Choice

In the long run, profit-maximizing monopolists facing a downward-sloping demand curve

A) may earn profits greater than their opportunity costs of capital.
B) do not produce every possible unit of output for which marginal utility is greater than or equal to marginal cost.
C) may or may not have lower costs than perfectly competitive firms in the same industry.
D) All of these responses are correct.