If you were a business owner and your goal was to maximize the amount of income...

If you were a business owner and your goal was to maximize the amount of income you made, which firm would you prefer to own?

Select one:

a. a monopolist

b. a perfectly competitive firm

c. a monopolistically competitive firm

d. a microeconomic firm

e. either a monopoly or monopolistic competitive firm

Solutions

Expert Solution

Option a

monopolist

A monopolist is one firm in the market and has power over price and earn profit in the long run

But the monopolistic competition and perfect competition firms can not earn profit in the long urn so you will prefer being a monopolist.

Rahul Sunny answered 1 year ago

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