In a monopoly,
A) marginal revenue is greater than price.
B) marginal revenue is less than price.
C) the demand curve is horizontal.
D) marginal revenue and price are equal
Correct Answer:
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Q28: Over the long run, monopolies can earn
A)economic
Q29: Maximizing shareholder value is synonymous with adding
Q30: When a firm is a price maker
A)price
Q31: One of the characteristics of an oligopoly
Q32: Examples of strategic behavior include
A)kinked demand and
Q34: Monopolies exist due to
A)patents.
B)government franchises.
C)cost factors.
D)all of
Q35: Firms in an oligopoly
A)act independently.
B)engage in strategic
Q36: For a competitive firm
A)price is equal to
Q37: In a monopoly, producer surplus is
A)larger than
Q38: Firms maximize profits when marginal revenue equals
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