The principle marginal revenue equal-marginal-cost rule for maximizing profit

A) does not apply to firms in the monopoly or oligopolistic industries.
B) applies only for firm in perfect competition but not in monopolistic competition.
C) applies to new firms but not to existing firms in an industry.
D) applies to all the firms in all industries.


D

Economics

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More education guarantees a higher income and escaping poverty

Indicate whether the statement is true or false

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Suppose an oil cartel has an agreement to restrict members' production in order to maintain a price of $30 per barrel. A single cartel member may want to cheat and exceed its quota so that it can:

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Which of these factors can explain the short recession experienced by the U.S. in 2001?

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Economics