In both perfect competition and monopoly,a firm:
A) maximizes profit by equating marginal revenue to marginal cost.
B) will shut down in the short run if price is less than average variable cost.
C) will always earn a zero economic profit.
D) will be characterized by both (a) and (b).

Question

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The Answer of In both perfect competition and monopoly,a firm:
A) maximizes profit by equating marginal revenue to marginal cost.
B) will shut down in the short run if price is less than average variable cost.
C) will always earn a zero economic profit.
D) will be characterized by both (a) and (b).

In Both Perfect Competition and Monopoly,a Firm