3) Monopolists set prices A) At the minimum of the long-run average total cost curve. B) Without constraints since there is no competition. C) On the marginal revenue curve. D) At the output where marginal revenue equals marginal cost.

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02-07-2021
Business

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3) Monopolists set prices A) At the minimum of the long-run average total cost curve. B) Without constraints since there is no competition. C) On the marginal revenue curve. D) At the output where marginal revenue equals marginal cost.

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andromache andromache · Answer 1 · 2021-07-07T01:02:30-04:00

andromache andromache

07-07-2021

Answer:

D At the output where marginal revenue equals marginal cost.

Explanation:

As we know that the monopolist have the market power so we can said that the prices can be set at the output level i.e. when the marginal revenue is equivalent to the marginal cost

So as per the given options, the option d is correct

And, the same should be considered and relevant

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