To maximize profit, a pure monopolist must a. maximize its total revenue b. maximize the difference between
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Question:
To maximize profit, a pure monopolist must
a. maximize its total revenue
b. maximize the difference between total revenue and total cost
c. maximize the difference between marginal revenue and marginal cost
d. produce where average total cost is at a minimum
for the monopoly, economic profit in the long run is
a. impossible for a pure monopolis
b. only possible when barriers to entry are nonexistent
c. guaranteed for a pure monopoly
d. possible for a pure monopoly but not guaranteed
Related Book For
Macroeconomics Principles, Applications, and Tools
ISBN: 978-0132555234
7th Edition
Authors: Arthur O Sullivan, Steven M. Sheffrin, Stephen J. Perez
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