How does the monopoly determine the level of output that maximizes profit? Group of answer choices By determining where marginal revenue is equal to marginal cost. A monopoly does not need to...

How does the monopoly determine the level of output that maximizes profit?

Group of answer choices

By determining where marginal revenue is equal to marginal cost.

A monopoly does not need to calculate where maximum profit occurs because they have no competition and can set any price they want for their product.

By determining where total revenue equals marginal cost.

By multiplying price by marginal cost.

Jun 11, 2022

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