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please i need help. can you please help me with all 4 questions. I will give the best rating. I have no access to my books because of the corona virus. colleges shut down.
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Answer #1

1. A monopilst maximizes profit by selecting output where MR=MC. Hence the correct option is

d. MR=MC.

2. A monopolist faces a demand curve less elastic than the perfect competition.

This is because there are substitutes in perfect competition but not in monopoly.

3. Monopoluy is a market structure with

c) one firm.

4. In the long run, monopolist erans (A) positive economic profits.

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