The equilibrium level of output of a monopolist is determined at a point where
ECONOMICS
WAEC 2006
The equilibrium level of output of a monopolist is determined at a point where
- A. marginal cost equals average revenue
- B. marginal cost equals acerage cost
- C. marginal cost equals marginal revenue
- D. marginal revenue equals average cost
Correct Answer: C. marginal cost equals marginal revenue
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