Question
Both a perfectly competitive firm and a monopolist:
Question 19 options:
A) always earn an economic profit.
B) maximize profit by setting marginal cost equal to marginal revenue.
C) maximize profit by setting marginal cost equal to average total cost.
D) are price takers.
Question 19 options:
A) always earn an economic profit.
B) maximize profit by setting marginal cost equal to marginal revenue.
C) maximize profit by setting marginal cost equal to average total cost.
D) are price takers.
Answers
GPT 3.5
D) are price takers.