A. marginal revenue equals average total cost
B. Price equals marginal revenue
C. marginal revenue equals marginal cost
D. total revenue equals total cost
Related Mcqs:
- In monopoly when abnormal profits are made ?
A. The price set is greater than the marginal cost
B. The price is less than the average cost
C. The average revenue equals the marginal cost
D. Revenue equals total cost - A monopoly is able to continue to generate economic profits in the long run because ?
A. there is some barrier to entry to that market
B. Potential competitors sometimes don’t notice the the profits.
C. the monopolist is financially powerful.
D. antitrust laws eliminate competitors for a specified number of years.
E. of all of the things described in these answers - The ability of the Organization of Petroleum Exporting Countries (OPEC) to maximize profits is hampered by ?
A. a lack of substitutes for oil
B. similar cost schedules for member countries
C. highly inelastic world demand curve for oil
D. economic recession for oil importing nations - When a oligopolist individually chooses its level of production to maximize its profits it charges a price that is ?
A. more than the price charged by either monopoly or a competitive market
B. less than the price charged by either monopoly or a competitive market
C. more than the price charged by a monopoly and less then the price charged by a competitive market
D. less than the price charged by a monopoly and more than the price charged by a competitive market - When an oligopolist individually chooses its level of production to maximize its profits, it produces an output that is ?
A. more than the level produced by a monopoly and less than the level produced by a competitive market
B. less than the level produced by a monopoly and more than the level produced by a competitive market
C. less than the level produce by either monopoly or a competitive market
D. more than the level produced by either monopoly or a competitive market - Public limited companies may not maximize their profits because ?
A. they are afraid of encouraging takeovers.
B. shareholders have little control over managers.
C. shareholders want higher dividends.
D. both the first and third option. - A firm may be unable to maximize profits because it ?
A. does not know its MC and MR
B. has too much information
C. has too little information
D. The first and third option - A monopoly may be self-perpetuating because profits may be used for ?
A. research
B. cost-saving
C. technical advance
D. all of the above - Suppose an oligopolist individually maximizes its profits. When calculating profits, if the output effect exceeds the price effect on the marginal unit of production, then the oligopolist ?
A. Should produce more units
B. has maximized profits.
C. is in a Nash equilibrium
D. Should produce fewer units
E. should exit the industry. - ________ is the practice of adopting policies and developing strategies that both sustain the environment and produce profits for the company ?
A. Environmentalism
B. Environmental sustainability
C. Consumerism
D. Consumer accountability
