A monopolist maximizes profits by producing where which of the following occurs?
A. MC = P.
B. AC = P.
C. MC = MR.
D. AC = AR.
Answer: C
Economics
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What will be an ideal response?
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If the total cost of producing 20 ceramic vases is $240, what is the average total cost of producing a single vase?
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A perfectly elastic demand curve is
A) vertical. B) horizontal. C) curvilinear. D) upward sloping.
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In the late 1970s, ________ of all firms were less than a year old. In recent years, ________ were
A) almost half; less than one-quarter B) less than 5 percent; more than 40 percent C) about 16 percent; only about 8 percent D) about 40 percent; about 20 percent
Economics