For a monopolist, marginal revenue for all units greater than 1 is:
A. always equal to price.
B. never less than price.
C. always less than price.
D. minimized at price.
C. always less than price.
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As the real interest rate increases, the quantity of saving supplied ________ and the quantity of saving demanded ________.
A. increases; decreases B. does not change; does not change C. increases; increases D. decreases; increases
Social Security is an earmarked tax
a. True b. False
Which of the following statements is correct?
A) The depth and the length of all business cycles are identical. B) The depth and the length of all business cycles are different. C) Business cycles are caused by seasonal unemployment changes. D) Business cycles are caused by unanticipated inflation.
Assume that when the price of cantaloupes is $2.50 the demand for cantaloupes is unit-elastic, and that the demand curve for cantaloupes is linear and downward sloping. If firms lower the price of cantaloupes to $2.00 which of the following statements
can be made regarding the price elasticity of demand for cantaloupes? A) The demand for cantaloupes at $2.00 must be inelastic. B) We cannot determine whether the demand for cantaloupes is elastic or inelastic without knowing what the quantity demanded is at each price. C) The demand for cantaloupes at $2.00 must be elastic. D) The demand for cantaloupes at $2.00 must be unit elastic.