Ameritech® has a monopoly over local telephone service. If Ameritech® is producing where marginal revenue is less than marginal cost, the firm could increase profits by reducing output. could increase profits by increasing output. is maximizing profits. must be earning a zero profit.
Ameritech® has a monopoly over local telephone service. If Ameritech® is producing where marginal revenue is less than marginal cost, the firm
| could increase profits by reducing output. |
| could increase profits by increasing output. |
| is maximizing profits. |
| must be earning a zero profit. |
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