A monopolist can sell 7 units per day at $7 per unit, or 8 units per day at $6 per unit. Its marginal revenue for the eighth unit of output is:
a. $48.
b. $6
c. $1.
d. -$1.
d
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Refer to Figure 3.4. The odds of Serena and Austin meeting randomly to view the sunset are
A) 0%. B) 25%. C) 50%. D) 100%.
Changes in the health of the average person are relatively unimportant as an indicator of changes in the standard of living
Indicate whether the statement is true or false
The demand for loanable funds slopes
A) downward because NPV falls as interest rates fall. B) downward because NPV falls as interest rates rise. C) downward because NPV falls as money enters the economy. D) upward because at higher interest rates people are more willing to save. E) upward because at higher interest rates the stock market is a less attractive investment.
The federal budget surplus recorded in 1998 resulted from a(n): a. decrease in taxes and rapid growth in federal outlays. b. increase in taxes and sluggish growth in federal outlays. c. decrease in taxes and a decrease in federal outlays
d. increase in federal outlays and taxes. e. increase in export earnings and decrease in import bills.