another question will save this response estion 6 Which of t

another question will save this response estion 6 Which of the following is accurate regarding profit maximization by a competitive firm in the The firm should produce any unit of output whose marginal revenue exceeds is welcome The firm should not produce a level of output whose marginal cost exceeds its marginal verse In equilibrium, the firm All of the above. should produce the level of output at which marginal revenue equalis manga.com Moving to another question will save this response. on 24 cstion will save this response. The demand curve faced by a monopolist O coincides with marginal revenue curve. falls above marginal revenue curve. falls below marginal revenue curve. O is a horizontal line drawn at the level of market price. Moving to another question will save this response. PIC.COLLAGE

Solution

1.In short run,a competitive firm is in equilibrium when Price=marginal cost=marginal revenue=demand.

Answer-C.

2.The demand curve faced by the monopolist is twice the MR curve and lies above it.

Answer-b