Under imperfect competition, a firm's:
a. demand curve lies below its marginal revenue curve.
b. demand curve lies above its marginal revenue curve.
c. demand curve coincides with its marginal revenue curve.
d. demand curve coincides with its marginal cost curve.
e. demand curve coincides with its average cost curve.
b
You might also like to view...
Why do publishers print the first edition of a book by a popular author in hard cover and not in paperback?
A) Hard cover books are long lasting and paperbacks can rip easily. B) Readers who want to read the book as soon as it comes out will be willing to pay a higher price compared to those who can wait for the paperback edition. C) A hardcover is the publishers' way of rewarding the avid readers. D) Publishers are not sure of the demand. E) Publishers cannot price discriminate.
For consumers with a binding borrowing constraint, a decrease in the real interest rate ________
A) decreases consumption now, and in the future B) increases consumption now, and in the future C) decreases consumption now, and increases future consumption D) has no impact on consumption
Which of the following would not be considered price discrimination?
a. Long distance telephone rates are cheaper late at night. b. Airline fares are cheaper if you reserve several weeks in advance. c. The price of lettuce is 59 cents a head and two for a dollar. d. The price of a brand-name prescription drug is higher than the price of a generic brand. e. Senior citizens pay less for a movie.
The type of currency in circulation in the modern U.S. economy is almost entirely
a. commodity money. b. metallic money. c. fiat money. d. silver certificates.