Because a monopolist must cut its price to increase its sales by one unit,
a. MR > P at every output level.
b. MC > MR at every output level.
c. P > MR at every output level.
d. MC > P at every output level.
c
You might also like to view...
The RBC approach has workers allocating their labor effort over blocks of time, with periods of intense activity when wages are high alternating with slack periods of vacation and leisure
This makes the labor supply curve rather ________, with unemployment an entirely ________ phenomenon. A) steep, voluntary B) steep, involuntary C) flat, voluntary D) flat, involuntary
What is an aggregate demand curve
a. The demand of an individual with respect to price b. The total demand of the market with respect to price of a good c. The preference of an individual in the market d. None of the above
According to the graph shown, consumer surplus is:
A. the area under the supply curve and above the price.
B. the area above the supply curve and below the price.
C. the area under the demand curve and above the market price.
D. the area above the demand curve and below the price.
In a free market, economic activity is coordinated by
a. central planners. b. prices. c. costs. d. majority rule.