A single-price monopolist will maximize profit by producing so that marginal revenue
A) exceeds marginal cost.
B) is less than marginal cost.
C) equals marginal cost.
D) equals price.
C
You might also like to view...
Which type of resource will improve through more education and training by workers?
A) money B) physical capital C) natural resources D) human capital
When an input represents a small proportion of a firm's total costs, then
A) demand for the input will tend to be less elastic. B) the input demand will vary significantly with a change in input price. C) the usage of the input cannot be varied in the production function. D) output demand will be highly elastic.
If the positive effect of a greater quantity demanded more than offsets the negative effect of a lower price, then total revenue rises
Indicate whether the statement is true or false
In a BLS study, the average adult spends __________ per day on unpaid work.
A. 2.8 hours B. 5 hours C. 1.5 hours D. 0 hours