Answer true or false: The condition for profit maximization for competitive firms and monopolies is the same;

Fantastic news! We've Found the answer you've been seeking!

Question:

Answer true or false: The condition for profit maximization for competitive firms and monopolies is the same; marginal revenues equal marginal cost. Hence monopolies are efficient. Please explain.

Related Book For answer-question

Introductory Statistics

ISBN: 978-0321989178

10th edition

Authors: Neil A. Weiss

See More Books

Posted Date: Apr 20, 2020 09:51 AM

See More Questions

Answer true or false and explain your answer: If it is important not to reject a true null hypothesis, the hypothesis test should be performed at a small significance level?
Answer true or false to each statement concerning a confidence interval for a population mean. Give reasons for your answers. a. The length of a confidence interval can be determined if you know only...
Answer true or false to each statement concerning a confidence interval for a population mean. Give reasons for your answers. a. The margin of error can be determined if you know only the confidence...
Utility is a type of function that occurs in eco-nomics. When a consumer receives a units of a product, a certain amount of pleasure, or utility U, is gained. The following represents a typical...
For an undirected graph G = (V, E) a subset of I of V is called independent when no two vertices in I are adjacent. If, in addition, I ª {x} is not independent for each x V - I, then we say that...
How many times greater is a cubic meter than a cubic centimeter?
Assume the same information as in question 4. Also assume that beginning work in process had $$6,000$ in conversion cost and that $$84,000$ in conversion is added during this period. What is the...
Maureen Corporation estimated its overhead costs would be $30,000 per month except for January when it pays the $90,000 annual insurance premium on the manufacturing facility. Accordingly, the...
What ways can I make my Relational Data Model conversion meet the following requirements listed below? Am I on the right track? What corrections do I need to address? ERD: My Conversion of ERD onto a...
Jose Loder established Bronco Consulting on August 1, 20Y2. The effect of each transaction and the balances after each transaction for August follow: Instructions 1. Prepare an income statement for...
As a General Manager, you are tasked with leading a company through a significant transition period that involves restructuring, cultural change, and technological upgrades. Describe the...
Research shows consumers are leery about sharing their private information with researchers for fear they will be harmed and their confidential information will be _______. Group of answer choices...
Actual personal spending in 2007 chained dollars was $1,002.3 billion in 2015 and $1,026.2 billion in 2016. In current dollars, it was $1,115.6 billion in 2015 and $1,153.5 billion in 2016. . Source:...
12. In the following tasks, match the appropriate quality term with the example given. Choices are: Quality Management System (QMS), Quality Assurance (QA), or Quality Control (QC) a) Assessment of...
Both Medical Manufacturing and R&D Health Inc. have developed advanced hearing aid technologies. R&D's hearing aids sell at $4,000 per pair, whereas Medical Manufacturing sells its hearing aids at...
What do you know about Stephen King? If you don't know anything about him, take a minute to look him up so that you have some context for his essay. In his opening, Stephen King states that the...
What are some techniques that a leader in supply chain management can implement to help an organization improve its supply chain performance?
What will be the final value of DI after executing the following piece of code? Execute the instructions dependently one after another. CLD MOU CX,OFOH MOU AX.02874H MOU DI,01000H MOU ES, DI SUB...
A moviegoer is defined as a person who goes to the movies at least once a month. From the article Hollywood Demographics on the Indiewire website, we obtained the following data on moviegoers in the...
From The World Bank, in the document Life Expectancy at Birth, we obtained data on the expectation of life (in years) at birth for people in various countries. Those data are presented on the...
We have provided the probability distributions of the random variables considered in Exercises 5.7-5.10 of Section 5.1. For each exercise, do the following tasks. a. Find the mean of the random...
Last year, Miley decided to terminate the S corporation election of her solely owned corporation on October 17, 2018 (effective immediately), in preparation for taking it public. At the time of the...
You have been assigned to compute the income tax provision for Motown Memories Inc. (MM) as of December 31, 2019. The companys income statement for 2019 is provided below: MM prepared the following...
Jane has been operating Mansfield Park as a C corporation and decides she would like to make an S election. What is the earliest the election will become effective under each of these alternative...

Answer true or false: The condition for profit maximization for competitive firms and monopolies is the same;

Question:

Expert Answer:

True Because For easy explanation To maximise the profit in the m... View the full answer

Introductory Statistics

Students also viewed these economics questions