Which of the following statements is true of a monopolist? The monopolist sets m

Question

Which of the following statements is true of a monopolist? The monopolist sets marginal revenue equal to marginal cost to maximize profits. The monopolist sets price equal to marginal cost to maximize profits. The monopolist will always earn positive economic profits. The marginal revenue curve is the same as the demand curve for the monopolist's output. Which of the following statements is true of a monopolist? The monopolist sets marginal revenue equal to marginal cost to maximize profits. The monopolist sets price equal to marginal cost to maximize profits. The monopolist will always earn positive economic profits. The marginal revenue curve is the same as the demand curve for the monopolist's output. The monopolist sets marginal revenue equal to marginal cost to maximize profits. The monopolist sets price equal to marginal cost to maximize profits. The monopolist will always earn positive economic profits. The marginal revenue curve is the same as the demand curve for the monopolist's output.

Explanation / Answer

The monopolist will always earn positive economic profits.

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