Which of the following is always true for a single-price monopolist?
A) P > MR
B) P < MR
C) P = MR
D) P = elasticity of demand
E) None of the above answers is correct because none of them is always true.
A
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Profit maximization
A) makes a firm become as large as possible. B) makes a firm remain small in the long run. C) increases the likelihood that a firm will survive. D) leads a firm to become the target of a takeover.
The "effectiveness lag" in monetary policy is the amount of time it takes
A) to collect the data to determine if a policy change is required. B) for monetary policy to have an impact on inflation and unemployment. C) for monetary policy to affect the money supply. D) to collect the data to determine what effect monetary policy has had on the economy.
Suppose environmental groups pressure the local government to reduce the number of pollution rights to be sold. Other things equal,
a. pollution would not be affected b. the price of pollution rights would rise, and the amount of pollution would decrease c. the price of pollution rights would fall, and the amount of pollution would decrease d. the price of pollution rights would fall, and the amount of pollution would increase e. the price of pollution rights would rise, and the amount of pollution would increase
Gross private domestic investment includes business:
A. purchases of capital goods, all new construction, and purchases of consumer durable goods. B. purchases of capital goods, all new construction, and inventory investment. C. purchases of capital goods, all new commercial construction, and inventory investment. D. purchases of all types of durable goods, all new construction, and inventory investment.