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The profit of a monopolist can be eliminated where price equals

Economics
JAMB 2011

The profit of a monopolist can be eliminated where price equals

  • A. AFC
  • B. MC
  • C. AC
  • D. AVC
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Correct Answer: Option B
Explanation

 In a monopoly, the price is set above marginal cost and the firm earns a positive economic profit. When the price is equal to marginal cost, the monopoly profit is eliminated.

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