37.The condition of equilibrium for the monopolist is: A. MR = MC B. MC = AR C. MR = Price D. AC = AR
Question
Solution 1
The condition of equilibrium for the monopolist is: A. MR = MC.
Here's why:
In economics, a monopolist – a single seller in a market – achieves equilibrium when its marginal cost (MC) is equal to its marginal revenue (MR).
Step 1: Understanding the terms
- Marginal Cost (MC) is the change in to Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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