In the long run, profit-maximizing monopolists facing a downward-sloping demand curve
A. can obtain profits greater than their opportunity costs of capital.
B. can produce where average total costs are minimized
C. can have a price that is the same as marginal revenue.
D. All of these responses are correct.
Answer: A
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a. True b. False
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A. an inferior good B. a substitute for good R C. a normal good D. a complement for good R E. both c and d
In 2009, _________ became the world's largest exporter.
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