In long-run equilibrium for a single-price monopolist
A)The plant size is always the one at the bottom of the long-run ATC curve
B)Output is at the level where short-run and long-run marginal cost are the same
C)Marginal cost equals ATC
D)Marginal revenue equals price

Question

Quizplus · Accepted Answer

In long-run equilibrium, a monopolist produces where marginal cost (MC) equals marginal revenue (MR), and the MC curve intersects the long-run average total cost (ATC) curve at its lowest point, ensuring no economic profit.

In Long-Run Equilibrium for a Single-Price Monopolist