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 costs 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 equals marginal revenue, and the short-run and long-run marginal costs are the same.

In Long-Run Equilibrium for a Single-Price Monopolist