Multiple Choice
Which of the following falsely describes a nondiscriminating monopolist at profit maximization?
A) Price is greater than marginal cost.
B) Economic profit is always positive.
C) Marginal revenue is equal to marginal cost.
D) Marginal revenue will typically be less than price.
E) Average total cost will not be at a minimum.
Correct Answer:
Verified
Correct Answer:
Verified
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