Latoya R.

asked • 12/15/19

True or False? Monopolists (a single firm industry) maximize profits the exact same way as perfect competitors, by producing a quantity that equates their marginal revenue with their marginal cost. 

True or False?

Monopolists (a single firm industry) maximize profits the exact same way as perfect competitors, by producing a quantity that equates their marginal revenue with their marginal cost. 

a. True

b.  False


Charles W.

tutor
True - both monopolies and perfectly competitive firms produce at profit max where Marginal Revenue = Marginal Costs.
Report

12/16/19

1 Expert Answer

By:

Still looking for help? Get the right answer, fast.

Ask a question for free

Get a free answer to a quick problem.
Most questions answered within 4 hours.

OR

Find an Online Tutor Now

Choose an expert and meet online. No packages or subscriptions, pay only for the time you need.