For a monopolist, marginal revenue is always
a. below market price
b. equal to market price
c. greater than market price
d. equal to total revenue
e. equal to total cost
A
You might also like to view...
Suppose the rural wage is $1 per day. Urban modern sector employment can be obtained with 5 probability and pays $2 per day
Will there be any rural-urban migration? Explain your reasoning, stating explicitly any simplifying assumptions, and show all work.
China's recent experience supports the proposition that
A) "economic miracles" are solely to be expected in small countries. B) central planning and socialism can promote sustained economic growth. C) a lessening of income disparities is a prerequisite for economic growth. D) growth in a large country cannot be affected by its foreign sector. E) policy changed can dramatically prompt export oriented growth
Mitch makes payments on a car loan. If the price level a year ago was 120 and people expected it to rise to 125 but it actually rose to 128, what happened to the real value of Mitch's payment as opposed to what he was expecting to happen? Express your answer to the nearest 100th
In Figure 30.2, a minimum wage of $20 will result in a
A. Shortage of 160 workers. B. Shortage of 180 hours. C. Surplus of 20 workers. D. Surplus of 32 workers.