Multiple Choice
The following is a difference between a monopolist and a perfectly competitive firm:
A) output is maximized when MR =MC
B) at some point there will always be diminishing returns to the marginal input.
C) the marginal cost curve is usually U-shaped
D) at equilibrium price is usually higher than marginal cost
Correct Answer:
Answered by ExamLex AI
Correct Answer:
Answered by ExamLex AI
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