Use the following table to answer the next question. PriceQuantity Demanded$7162534435The marginal revenue generated by the pure monopoly from selling the third unit of output is
A. $3.
B. $1.
C. $5.
D. $6.
Answer: A
Economics
You might also like to view...
Define the concept used in economics known as Ockham's Razor
What will be an ideal response?
Economics
Recessionary gaps are most likely to be accompanied by
a. inflation. b. inventory reductions. c. unemployment. d. expanding output.
Economics
In a market, the rationing function of prices results in
A) long waiting lines. B) a price ceiling. C) an equilibrium between supply and demand. D) a shortage or surplus.
Economics
Which is an important aspect of the perfectly competitive market that leads to long run equilibrium?
A) perfect information B) freedom of entry and exit C) price taking behavior D) homogeneous products
Economics