For a monopolist, price
A. is greater than marginal revenue.
B. equals marginal revenue at all output levels.
C. is less than marginal revenue.
D. can be greater than or less than marginal revenue.
Answer: A
You might also like to view...
Which of the following shifts the supply curve of broccoli?
A) an increase in income B) a newly discovered increase in the nutritional value of broccoli C) a newly discovered link between broccoli consumption and tooth decay D) the destruction of much of this year's broccoli crop by hurricanes
If Tony receives a pay raise and the price effect outweighs the income effect on his labor supply decisions, he will:
A. work more hours. B. quit and not work at all. C. work less hours. D. work the same hours no matter what.
Buyers and sellers acting in their own best interest generate outcomes that are in society's best interest when:
A. there are informed buyers and sellers. B. there is perfect competition. C. there are no external costs. D. All of these.
Preferred Budgets ($ in millions)567891011Number of voters (in thousands)61016201595Table 15.2Table 15.2 shows the preferred budget for a new civic center and the number of voters in a community who prefer that budget. Suppose that Jay initially proposed $6 million while David proposed $10 million. Given the distribution of voters' preferences, Jay can increase his chance of being elected by proposing:
A. a greater budget toward the median budget. B. a greater budget than $10 million. C. a smaller budget than $6 million. D. None of these