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In: Economics

Indicate whether True or False a)In perfect competition, price is equal to marginal revenue while in...

Indicate whether True or False

a)In perfect competition, price is equal to marginal revenue while in monopoly price is greater than marginal revenue

b)No supply curve exists for a monopoly in the sense that a supply curve exists for a perfectly competitive firm

c)Because the marginal revenue curve for a monopolist lies below its demand curve,the profit -maximizing price of the monopolist will be above marginal cost

d)The profit- maximizing level of output for a monopolist is the one at which marginal revenue equals marginal cost

Solutions

Expert Solution

Rahul Sunny answered 2 years ago
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