1. Which of the following market types has only a few competing firms? A.monopol

1. Option D is correct (by definition) 2. Monopoly would produce at a quantity where MR = MC (Profit maximization condition) Option D is correct

ID: 1110428 • Letter: 1

Question

1. Which of the following market types has only a few competing firms?

A.monopoly

B.monopolistic competition

C.perfect competition

D.oligopoly

E.perfect competition and monopolistic competition

2. To maximize its profit, a singleminusprice monopoly produces the quantity at which

A.the marginal revenue curve intersects the horizontal axis.

B.the difference between marginal revenue and marginal cost is as large as possible.

C.the marginal cost curve intersects the demand curve.

D.marginal revenue equals marginal cost.

E.average total cost is at its minimum.

1. Option D is correct (by definition)

Monopoly would produce at a quantity where MR = MC (Profit maximization condition)

Option D is correct

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