As output rises, the monopolist's marginal revenue
A. remains identical to price.
B. stays constant.
C. declines as quickly as price.
D. declines more quickly than price.
D. declines more quickly than price.
You might also like to view...
Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
Export tariffs are generally supported by business interests
Indicate whether the statement is true or false
The responsiveness of demand to changes in income holding the good's relative price constant is
A) price elasticity of demand. B) income elasticity of demand. C) elasticity of supply. D) cross price elasticity of demand.
In Figure 22.1, which area represents consumer surplus to the drug addict? 
A. AP*C B. 0P*CQ* C. 0BCQ* D. 0ACQ*