For a monopoly producing any output level greater than one, the marginal revenue curve:

A. lies below the demand curve.
B. is minimized when total revenue is maximized.
C. lies above the average revenue curve.
D. is the same as the demand curve.


Answer: A

Economics

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If the nominal interest rate in an economy is 9% and the expected inflation rate is 6%, then the expected real interest rate in the economy is:

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A perfectly competitive wheat farmer in a constant-cost industry produces 3,000 bushels of wheat at a total cost of $36,000. The prevailing market price is $15. What will happen to the market price of wheat in the long run?

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