The monopolist faces a downward sloping demand curve, and maximizing profits requires the monopolist to
A) accept the market price for its product.
B) will produce where the demand curve is inelastic.
C) search for the price consistent with producing to the point at which marginal revenue equals marginal cost.
D) search for the highest possible price consistent with maximizing its revenues, irrespective of its explicit and implicit opportunity costs.
C
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________ are the owners of a corporation
A) Bondholders B) The board of directors C) Stockholders D) Top management
While the classical economists believed that both velocity and output are stable, Keynesians believe
a. velocity is stable and output is variable b. velocity and output are both variable c. output is stable and velocity is variable d. on this one point only, that the classical economists are right: that both output and velocity are stable e. at low levels of income both velocity and output are stable, but at high levels of income velocity becomes variable
Which one of the following people is not considered by the BLS as belonging to the labor force?
a. a full-time student at Nassau Community College who devotes all her time to her classes b. Roger Cherrier, who works 30 hours a week at Burger King and goes to school at night c. David Reinblatt, who was fired last week and immediately started searching for a new job d. the President of the United States e. Matt George, who plays professional hockey for the minor league team the Hershey Bears and concedes that he would play for nothing because of the love of the sport
The demand for agricultural products rises less rapidly than income. This means that the demand for agricultural products is:
A. income inelastic. B. income elastic. C. price inelastic. D. price elastic.