Graphically, the marginal revenue curve of a monopolist:
a. lies below the demand curve of a monopolist
b. is the same as the demand curve of a monopolist.
c. lies above the demand curve of a monopolist.
d. is the same as the marginal cost curve of a monopolist.
a
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You can buy a season ticket to the Metropolitan Opera for $800. A season ticket plan to see the New York Knicks is $1600. Which of the following is a CORRECT statement?
A) The money price of opera tickets is 1/2 of a Knicks ticket per opera ticket. B) The opportunity cost of a Knicks ticket is 2 opera tickets per Knicks ticket. C) The relative price of an opera ticket is $800. D) the money price of a Knicks ticket is 2 opera tickets per Knicks ticket.
Which of the following pricing policies best identifies when a product should be expanded, maintained, or discontinued?
a. full-cost pricing policy b. target-pricing policy c. marginal-pricing policy d. market-share pricing policy e. markup pricing policy
The increase in total output that results from a unit increase in one unit of a variable input is equal to the input's:
a. total product. b. marginal product. c. average product. d. marginal cost.
For how many years does a Federal Reserve governor serve on a term?
a. 7 b. 10 c. 12 d. 14