For a monopolist that does not price discriminate, economic profit is maximized in the short run at a price of $140 . Marginal revenue at that output level is
a. equal to $140
b. greater than $140
c. less than $140
d. less than marginal cost
e. greater than average revenue
C
You might also like to view...
When the real interest rate rises, there is
A) neither a shift of the consumption function nor a movement along the consumption function. B) a downward shift of the consumption function. C) a downward movement along the consumption function. D) an upward shift of the consumption function. E) an upward movement along the consumption function.
In long-run macroeconomic equilibrium
A) real GDP equals potential GDP. B) the price level is fixed and aggregate demand determines real GDP. C) real GDP and the price level are determined by short-run aggregate supply and aggregate demand and long-run aggregate supply is irrelevant. D) real GDP is less than potential GDP.
Holding other factors constant, a technological improvement that increases the marginal product of capital will:
A. decrease investment. B. increase investment. C. increase national saving. D. decrease national saving.
When a government imposes price controls, the result is that
A. all trades are as mutually beneficial to each party as possible. B. the price system operates more efficiently. C. scarcity usually disappears. D. the rationing function of prices is not allowed to function freely.