At the monopolist's optimal amount of advertising,
A) the marginal benefit of advertising exceeds the marginal cost of advertising.
B) the marginal benefit of advertising is equal to the marginal cost of advertising.
C) the marginal benefit of advertising is two times smaller than the marginal cost of advertising.
D) the marginal benefit of advertising is at least five times smaller than the marginal cost of advertising.
B
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For a monopolist, marginal revenue for all units greater than 1 is:
A. always less than price. B. minimized at price. C. always equal to price. D. never less than price.
Of the $840 billion American Recovery and Reinvestment Act stimulus package which was enacted in 2009, approximately ________ took the form of tax cuts and ________ took the form of increases in government expenditures
A) one-third; two-thirds B) one-tenth; nine-tenths C) one-half; one-half D) three-fourths; one-fourth
Owners of a corporation have limited liability for the debts of the business.
Answer the following statement true (T) or false (F)
How many units should Harvey's Housewares produce?
a. 1 unit b. 2 units c. 3 units d. Zero units, at these prices, the production should not start