If the demand for its product is elastic, a monopoly's
A) total revenue is unchanged when the firm lowers its price.
B) total revenue decreases when the firm lowers its price.
C) marginal revenue is positive.
D) marginal revenue is zero.
C
You might also like to view...
The chain-weighted output index
A) uses only the current year's prices to calculate growth in real GDP. B) uses prices for the current year and the previous year to calculate growth in real GDP. C) must be calculated only every other year. D) is an inaccurate way to measure growth in real GDP and so has been replaced by the "nominal-to-real" index.
The real interest rate can be negative
a. True b. False Indicate whether the statement is true or false
To offset the effect of a steep fall in net exports on the economy, the government might: a. increase government purchases. b. decrease government purchases. c. increase taxes
d. none of the above.
Explain the supply and demand of products, factors of production, the payments for the products and factors of production as described in the circular flow diagram.
What will be an ideal response?