When demand falls, the price charged by a monopoly under an average-cost pricing policy will fall.
Answer the following statement true (T) or false (F)
False
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Describe the four stages of the financial regulatory pattern
What will be an ideal response?
Refer to the graph shown. Other things equal, an increase in the market price of this product will cause:
A. an increase in total revenue and a decrease in the firm's profit-maximizing level of output. B. a decrease in total revenue and a decrease in the firm's profit-maximizing level of output. C. a decrease in total revenue and an increase in the firm's profit-maximizing level of output. D. an increase in total revenue and an increase in the firm's profit-maximizing level of output.
The short-run average total cost curve is U-shaped because:
A. average fixed costs decline continuously as output increases. B. of increasing and diminishing returns. C. of economies and diseconomies of scale. D. minimum efficient scale is encountered.
Voss Calculator Company has a monopoly on the sale of graphing calculators. If it sells two of these calculators its total revenue is $500, and if it sells three calculators its total revenue is $700. The marginal revenue of the third calculator sold is
A. $100. B. $150. C. $200. D. $700.