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9 January, 19:02

Which of the following statements regarding a monopolist is false? A. The marginal revenue cure lies below the demand curve for the monopolists output. B. Unlike a perfectly competitive firm a monopolist faces little or no competition. C. The monoplist sets price equal to marginal cost to maximize profit. D. The monopolist may or this not earn positive economic profit.

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  1. 9 January, 21:31
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    C. The monoplist sets price equal to marginal cost to maximize profit.

    Explanation:

    To maximise the profit, monopolist charge price where MR = MC.
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