Question 2 Which of the following is true? A monopolist produces on the inelastic portion of its demand A monopolist always earns an economic profit The more inelastic the demand, the closer marginal revenue is to price In the short run, a monopoly will shut down if P < AVC

Question 2
Which of the following is true?
A monopolist produces on the inelastic portion of its demand
A monopolist always earns an economic profit
The more inelastic the demand, the closer marginal revenue is to price
In the short run, a monopoly will shut down if P < AVC

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