Which of the following described the monopolist’s marginal revenue curve on a graph?
a. Lies above the demand curve
b. Is the same as the demand curve
c. Lies below the demand curve
d. Is a horizontal line at market price
c. Lies below the demand curve
You might also like to view...
A firm that is the only firm in the industry may not behave like a monopolist in order to deter entry of other firms. ?
Answer the following statement true (T) or false (F)
A production possibilities curve depicts
a. combinations of resources the economy has the capacity to produce b. prices that can be charged for capital and consumption goods c. combinations of prices and outputs that can be produced d. combinations of goods the economy has the capacity to produce e. combinations of resources and prices that the economy can produce
What is wearing a red hat?
a. A communist party registeration b. Use the name of the state institution to cover the private enterprises c. It is a collectively owned by villagers d. It is that the economy of China has trouble providing for all the needs of the people e. All of the above
A perfectly competitive firm faces a market clearing price of $150 per unit. Average total costs are at the minimum value of $200 per unit at an output rate of 100 units. Average variable costs are at the minimum value of $100 per unit at an output rate of 50 units. Marginal cost equals $150 per unit at an output rate of 75 units. It can be concluded that the short-run profit-maximizing output rate is
A. 75 units, at which the firm earns positive economic profits per unit sold. B. 50 units, because price is less than average variable costs. C. 75 units, at which the firm earns zero economic profits per unit sold. D. 75 units, at which the firm earns negative economic profits per unit sold.