For a monopolist, if total revenue increases as output increases, then marginal revenue is
A. greater than the price.
B. negative.
C. zero.
D. positive.
Answer: D
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Which of the following will not cause a change in the demand for product A?
A. a change in the price of A B. a change in consumer incomes C. a change in tastes D. a change in the number of buyers
The Federal Deposit Insurance Corporation:
A. has eliminated bank failures. B. insures all demand deposits without limit. C. insures all demand deposits up to $250,000. D. includes commercial banks and state-chartered banks as its members.
The labor force is defined as the number of
A. people who are working. B. employed plus the number of unemployed. C. people who are working in labor-type jobs. D. union members who are working.
Over the past twenty years, the number of small family farms has fallen significantly and in their place there are fewer, but larger, farms owned by corporations. Which of the following best explains this trend?
A) diseconomies of scale in farming B) economies of scale in farming C) diminishing returns to labor in farming D) declining productivity