For a monopolist,
a. average revenue is always greater than the price of the good.
b. marginal revenue is always less than the price of the good.
c. marginal cost is always greater than average total cost.
d. marginal revenue equals marginal cost at the point where total revenue is maximized.
b
You might also like to view...
Which of the following is one of the chief reasons for the change in the participation rate of married women in the U.S. workforce?
Refer to Table 19-18. What is the GDP deflator in 2011 if 2016 is the base year?
A) 187 B) 87 C) 8.7 D) 0.87
The World Bank
A. is a central bank like the Federal Reserve System. B. is a multinational agency that specializes in making loans to promote long-term development and growth in developing countries. C. is a multinational organization that aims to promote world economic growth through more financial stability. D. is the bank that causes international financial crisis when the reserves are too high.
A Market:
A. Exhibits up sloping demand and down sloping supply curves B. Entails the exchange of goods but not services C. Is and institution of mechanism that brings together buyers and sellers D. Always requires face-to-face contact between buyer and seller