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In the long run a profit-maximizing monopoly produces an

In the long run, a profit-maximizing monopoly produces an output volume that

a. equates long-run marginal cost with marginal revenue.

b. equates long-run average total cost with average revenue.

c. assures permanent positive profit.

d. is correctly described by both (a) and (c).

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Microeconomics: In the long run a profit-maximizing monopoly produces an

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