If a monopolist's marginal revenue is $25 and its marginal cost is $19, then the monopolist should:
A. leave its output and price unchanged.
B. increase its output.
C. decrease its output.
D. raise its price.
Answer: B
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If 100% of individuals in a group are required to agree before an action can take place then _____
a. external costs will be high b. we cannot determine the level of external costs without additional information c. external costs will be zero d. external costs will be low
If the demand for money increases, but the Fed keeps the money supply the same:
a. nominal interest rates will rise and aggregate demand will fall. b. nominal interest rates will rise and aggregate demand will rise. c. nominal interest rates will fall and aggregate demand will fall. d. nominal interest rates will fall and aggregate demand will rise.
The Gramm-Rudman-Hollings Act was an attempt to bring the federal budget into balance.
Answer the following statement true (T) or false (F)
Industries may be oligopolistic due to economies of scale.
Answer the following statement true (T) or false (F)