Which of the following is not true?
A)The monopolist, like the perfect competitor, will maximize profits at that output where MR = MC.
B)The monopolist, unlike the perfect competitor, will not maximize profits at that output where P = MC.
C)If a monopoly is earning economic profits, they will not be eliminated by entry into the industry.
D)A monopolist produces an output where the value to society from the last unit produced is greater than its marginal cost.
E)All of the above are true.

Question

Quizplus · Accepted Answer

The Answer of Which of the following is not true?
A)The monopolist, like the perfect competitor, will maximize profits at that output where MR = MC.
B)The monopolist, unlike the perfect competitor, will not maximize profits at that output where P = MC.
C)If a monopoly is earning economic profits, they will not be eliminated by entry into the industry.
D)A monopolist produces an output where the value to society from the last unit produced is greater than its marginal cost.
E)All of the above are true.

Which of the Following Is Not True