Multiple Choice
A monopolized market is in long-run equilibrium when
A) zero economic profit is earned by the monopolist.
B) production takes place where price is equal to long-run marginal cost and long-run average cost.
C) production takes place where long-run marginal cost is equal to marginal revenue and price is not below long-run average cost.
D) All of the above are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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