A monopolist maximizes profits where marginal revenue equals marginal cost.
a. true
b. false
Answer: a. true
You might also like to view...
The easiest way for a country to obtain access to technology is through
A) promoting foreign direct investment. B) subsidizing education and training. C) enacting policies to promote property rights. D) promoting policies to enhance saving.
A monopoly:
A. is constrained because its decisions cannot affect market price. B. is constrained by demand. C. faces a horizontal demand curve. D. is constantly threatened by the entry of new firms.
Marginal revenue product is defined as
a. the total revenue generated by inputs b. the additional output produced by one additional unit of a resource, other things constant c. the marginal revenue from each unit of output d. the total revenue divided by the number of resources employed e. the additional revenue generated by one additional unit of a resource, other things constant
A household that expects a decrease in disposable income in the future will _____
Fill in the blank(s) with the appropriate word(s).