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Loraine Loraine
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Posts: 4563
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9 years ago
Which of the following statements is correct?
A) Monopolies are guaranteed to earn an economic profit.
B) The market demand and the firm's demand are the same for a monopoly.
C) Monopolies have perfectly inelastic demand for the product sold.
D) Because a monopoly is the only firm in the market, its supply curve is the same as the market demand curve.
E) Because a monopoly is the only firm in the market, its marginal revenue curve must be the same as the market demand curve.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
Read 180 times
2 Replies
Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.

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wrote...
#1
9 years ago
B
wrote...
#2
9 years ago
No problemo Happy Dummy
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