If a monopolist can sell 2 units at price of $200 per unit and 3 units at a price of $180 per unit, its marginal revenue at an output of 3 is
A) $-20.00.
B) $80.00.
C) $140.00.
D) $180.00.
C
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
An economy's resources include
A) raw materials. B) factories and machinery. C) human knowledge. D) all of the above
Exhibit 30-4
?
A. Q1. B. Q2. C. Q1 - Q2. D. Q2 - Q1.
What is the most appropriate test to evaluate whether a government-spending program will improve living standards and lead to higher income levels?
A) The value of the output generated by the government-spending program compared to its opportunity cost B) The total number of jobs created by the program C) The reduction in the rate of unemployment as the result of the spending on the program D) The taxes necessary to finance the program compared to the revenues generated by the additional employment created by the program