When a certain monopoly sets its price at $8 it sells 64 units. When the monopoly sets its price at $9 it sells 62 units. The marginal revenue for the firm over this range is
a. $18.
b. $23.
c. $46.
d. $92.
b
You might also like to view...
Which of the following statements is TRUE?
A) A Cobb-Douglas production function can have different returns to scale at different output levels. B) It is impossible to have increasing returns to scale for one output level, and decreasing returns to scale for a different output level. C) It is possible to have increasing returns to scale for one output level, and decreasing returns to scale for a different output level. D) None of the above.
Why might two presidential candidates appear to have very similar opinions during an election year even if they come from different parties?
a. They aim to please special-interest groups. b. They are logrolling. c. They try to appeal to the median voter. d. Republicans and Democrats usually agree on most issues. e. They don't wish to appear rationally ignorant.
The ability of banks to get insurance from ______________ encourages banks to take on a little bit _________ risk than they would in the absence of deposit insurance
A) the FDIC; less B) Fannie Mae (FNMA); more C) the FDIC; more D) Fannie Mae (FNMA); less
Holding other factors constant, a higher relative price of a firm's output will:
A. increase national saving. B. increase investment. C. decrease investment. D. decrease national saving.