A monopolist may enjoy abnormal profit only if its
...A monopolist may enjoy abnormal profit only if its
Marginal cost exceeds marginal revenue
Demand curve is perfectly elastic
Expenditure on advertisement increases
Price exceeds average total cost
Correct answer is D
A monopolist may enjoy abnormal profit only if its price exceeds average total cost. This is because a monopolist is the only producer in the market, and they can therefore set the price of their product. If the price exceeds average total cost, the monopolist will be making a profit.
Which of the following has a derived demand? ...
If the actual population in a country is less than the optimum population, then ...
Isocost and isoquant can be attributed to ...
Wholesalers play an important role in the distribution of goods and services because they? ...
The value of total output in the economy using the value added approach is ...
An example of an expansionary fiscal policy action is ...
The value of money is affected by ...
An economy which exhibits features of both private and State enterprises is known as ...
If tax takes a large proportion of the income of people with lower income, the tax is ...