If a monopolist were to produce in the inelastic segment of its demand curve:
A. total revenue would be at a maximum.
B. marginal revenue would be positive.
C. the firm would not be maximizing profits.
D. it would necessarily incur a loss.
Answer: C
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A. property taxes. B. income taxes. C. excise taxes. D. payroll taxes.
Slower growth in labor demand in combination with increases in labor supply explains ________ accompanied by ________.
A. a slowdown in real wage growth; a decline in employment B. a slowdown in real wage growth; increasing wage inequality C. accelerated real wage growth; a decline in employment D. a slowdown in real wage growth; rapid employment growth
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A. Using the fewest resources to produce a good or service. B. Producing the output at the minimum MC curve. C. Producing the best combination of goods and services. D. Producing the output where the AVC curve is at a minimum.