A profit-maximizing monopolist always charges the highest price possible.
Answer the following statement true (T) or false (F)
False
You might also like to view...
In the long run, monopolistically competitive firms make zero economic profits because of government regulations
Indicate whether the statement is true or false
The demand curve for a good that has many perfect substitutes in consumption is likely to be
a. upward sloping b. steep c. highly inelastic d. horizontal e. vertical
A recessionary gap is usually closed in the long run by a(n): a. rightward shift of the short-run aggregate supply curve
b. leftward shift of the short-run aggregate supply curve. c. rightward movement along a fixed short-run aggregate supply curve. d. decrease in aggregate demand. e. leftward movement along a fixed short-run aggregate supply curve.
If a firm's total costs are $100 when 10 units of output are produced and $103 when 11 units of output are produced, the marginal cost of the 11th unit is
A) $1. B) $3. C) $5. D) $9.36.