Which of the following is not a characteristic of a monopoly? A. the demand curve is downward-sloping which means that the marginal revenue derived from selling additional unit of a product is below the price B. optimal output is produced where the marginal revenue is equal to the marginal cost C. the optimal output of a monopolist is lower than the output had the market been a purely competitive one D. the monopolist does not incur losses and does not shut down E. all are characteristics of a monopoly
Which of the following is not a characteristic of a monopoly? A. the demand curve is downward-sloping which means that the marginal revenue derived from selling additional unit of a product is below the price B. optimal output is produced where the marginal revenue is equal to the marginal cost C. the optimal output of a monopolist is lower than the output had the market been a purely competitive one D. the monopolist does not incur losses and does not shut down E. all are characteristics of a monopoly
Chapter14: Monopoly
Section: Chapter Questions
Problem 14.1P
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Which of the following is not a characteristic of a monopoly ?
A. the demand curve is downward-sloping which means that the marginal revenue derived from selling additional unit of a product is below the price
B. optimal output is produced where the marginal revenue is equal to the marginal cost
C. the optimal output of a monopolist is lower than the output had the market been a purely competitive one
D. the monopolist does not incur losses and does not shut down
E. all are characteristics of a monopoly
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