For a monopolist, marginal revenue for all units greater than 1 is:
A. always less than price.
B. minimized at price.
C. always equal to price.
D. never less than price.
Answer: A
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In the long-run ISLM model and with everything else held constant, the long-run effect of a cut in government spending is to ________ real output and ________ the interest rate
A) increase; increase B) increase; not change C) not change; increase D) not change; decrease
The market structure in which each firm has a monopoly over the product it makes, but many other firms make similar products that compete for the same customers is called
Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
The time between when a policy is enacted and when it affects the economy is the ________ lag.
A. multiplier B. recognition C. legislative D. effectiveness