Multiple Choice
Which of the following is true of a profit-maximizing output market monopolist?
A) The monopolist equates the wage rate with the marginal revenue product.
B) The monopolist faces a downward-sloping supply curve for an input.
C) As compared to a competitive firm,an output market monopolist pays a higher price for inputs.
D) The ratio of capital to labor is higher for an output market monopolist than a competitive firm.
Correct Answer:
Verified
Correct Answer:
Verified
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