For a monopolist, when does marginal revenue exceed average revenue?
a. never
b. when output is less than the profit-maximizing level of output
c. when output is greater than the profit-maximizing level of output
d. for all levels of output greater than zero
a
You might also like to view...
A network externality occurs when
A) the usefulness of a good is affected by celebrities who use the good. B) there is production cost savings from being networked with buyers. C) the usefulness of a good is affected by how many other people use the good. D) there is production cost savings from being networked with suppliers.
Assuming that soybeans and tobacco can both be grown on the same land, a decrease in the price of tobacco, other things being equal, causes a(n):
a. rightward shift of the supply curve for tobacco. b. upward movement along the supply curve for soybeans. c. rightward shift in the supply curve for soybeans. d. leftward shift in the supply curve for soybeans.
If the government increases the income tax rate they likely intend for:
A. C to decrease, shifting aggregate demand to the left. B. C to increase, shifting aggregate demand to the right. C. I to increase, shifting aggregate demand to the right. D. G to increase, shifting aggregate demand to the right.
Which one of the following is NOT a government failure?
A. The "bridge to nowhere" in Alaska B. The FEMA reaction to Hurricane Katrina C. Allowing federal budget deficits to be financed by foreigners while calling for further tax cuts to help incumbent politicians get reelected D. Water pollution