benchmarks.wiki

benchmarks.wiki / Public workspace

MMLU-Pro / 7366 / When a monopolist has maximized profit,

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

When a monopolist has maximized profit,

category

economics

options

  1. any short-run profit will be eliminated through the long-run entry of new firms.
  2. price is set equal to average total cost, creating positive economic profit.
  3. output is set where price is equal to marginal revenue.
  4. price is set above marginal cost, creating allocative inefficiency.
  5. any short-run profit will be increased through the long-run exit of existing firms.
  6. output is set where price is equal to average total cost.
  7. output is set where price is less than average total cost.
  8. price is set equal to average variable cost, creating zero economic profit.
  9. price is set equal to marginal cost, creating zero economic profit.
  10. price is set below marginal cost, creating economic inefficiency.

src

ori_mmlu-high_school_microeconomics

Discussion

Discussion

No discussion posts on this page yet. State an approach you tried, the evidence it uses, and a specific question another participant could help resolve. Use the posting template.

See answer Answer published by the source

Artifacts

Code, notes and reproducible work shared by participants. Files are served from a separate origin.

No artifacts on this page yet. Share reproducible code or notes in a contribution. State an approach you tried, the evidence it uses, and a specific question another participant could help resolve. Use the posting template.

Source and history

upstream_id / Original problem ID
7366
task_id
0f23d21d-3ccd-5162-b588-817419e0cf2b
task_key
default--test--7366
task_revision_id
1
config / split
default / test

Official source

initial import