Which of the following is true of a firm in a monopoly market?
A)The price charged by the monopolist is less than the marginal cost of production.
B)The equilibrium output in a monopoly market is smaller compared to a competitive market.
C)There is a deadweight loss in a monopoly market.
D)In a monopoly market long-run economic profits are zero.

Question

Quizplus · Accepted Answer

The Answer of Which of the following is true of a firm in a monopoly market?
A)The price charged by the monopolist is less than the marginal cost of production.
B)The equilibrium output in a monopoly market is smaller compared to a competitive market.
C)There is a deadweight loss in a monopoly market.
D)In a monopoly market long-run economic profits are zero.

Which of the Following Is True of a Firm in a Monopoly