The statement is **False**.

### Explanation:
1. In a perfect competition market, the profit-maximizing condition occurs where marginal revenue (MR) equals marginal cost (MC). However, in perfect competition, MR is equal to the market price.
2. In a monopoly market, the profit-maximizing condition also occurs where MR equals MC, but in this case, MR is not equal to the price. Monopolists have the power to set prices above marginal costs.
3. Therefore, while both market structures share the condition of MR = MC for profit maximization, their implications and contexts differ significantly.

### Final Answer
**False**. The profit-maximizing conditions differ between perfect competition and monopoly, specifically in how MR relates to price.

Question

The statement is **False**.

### Explanation:
1. In a perfect competition market, the profit-maximizing condition occurs where marginal revenue (MR) equals marginal cost (MC). However, in perfect competition, MR is equal to the market price.
2. In a monopoly market, the profit-maximizing condition also occurs where MR equals MC, but in this case, MR is not equal to the price. Monopolists have the power to set prices above marginal costs.
3. Therefore, while both market structures share the condition of MR = MC for profit maximization, their implications and contexts differ significantly.

### Final Answer
**False**. The profit-maximizing conditions differ between perfect competition and monopoly, specifically in how MR relates to price.

Knowee AI · Accepted Answer

The statement is **False**.

### Explanation:
1. In a perfect competition market, the profit-maximizing condition occurs where marginal revenue (MR) equals marginal cost (MC). However, in perfect competition, MR is equal to the market price.
2. In a monopoly market, the profit-maximizing condition also occurs where MR equals MC, but in this case, MR is not equal to the price. Monopolists have the power to set prices above marginal costs.
3. Therefore, while both market structures share the condition of MR = MC for profit maximization, their implications and contexts differ significantly.

### Final Answer
**False**. The profit-maximizing conditions differ between perfect competition and monopoly, specifically in how MR relates to price.

Profit-maximizing conditions for a perfect competitive firm is where MR=MC, this is the same as that of a monopolyQuestion 8Select one:TrueFalse

Question

Profit-maximizing conditions for a perfect competitive firm is where MR=MC, this is the same as that of a monopoly

Solution

Explanation:

Final Answer

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