Suppose the market demand curve for a monopolist is given by P = 50 - 10Q. Then the marginal revenue curve is given by:
A. MR = 25 - 20Q.
B. MR = 50 - 5Q.
C. MR = 25 - 10Q.
D. MR = 50 - 20Q
Answer: D
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The average total cost curve and the average variable cost curve
a. are closer together as output increases, with average variable cost reaching its minimum level first b. are closer together as output increases, with average total cost reaching its minimum level first c. are farther apart as output increases, with average variable cost reaching its minimum level first d. are farther apart as output increases, with average total cost reaching its minimum level first e. are parallel to each other, and reach their minimum levels at the same rate of output
The most appropriate level of government to provide public goods is:
A. dependent on the specific public good in question. B. local. C. state. D. federal.
Assume that the required reserve ratio is 10%. An increase of $1,000 in the banking system's excess reserves may result in a total expansion of new deposits for the banking system as a whole by as much as
A) $1,000. B) $9,000. C) $10,000. D) $100,000.
Higher saving rates mean higher future growth rates because
A. saving contributes to less investment, which yields a larger capital stock. B. the banks have more money to distribute to their shareholders. C. saving contributes to more investment, which yields a larger capital stock. D. the interest earned from savings gives you more wealth.