Which of the following is true?
A) A monopolist produces on the inelastic portion of its demand.
B) A monopolist always earns an economic profit.
C) The more inelastic the demand, the closer marginal revenue is to price.
D) In the short run, a monopoly will shut down if P < AVC.
Correct Answer:
Verified
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Q21: There is no market supply curve in:
A)
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A) perfectly competitive
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