When the demand curve is a downward sloping straight line, the quantity at which the demand curve intersects the horizontal (quantity) axis is ________ the quantity at which the marginal revenue curve intersects the horizontal (quantity) axis.
A. equal to
B. four times
C. less than
D. twice
Answer: D
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A) A monopolist has a vertical supply curve because it is a price taker. B) A monopolist's supply curve is the supply curve of the entire market. C) A monopolist does not have a supply curve because its production decision is independent of price. D) A monopolist has a horizontal supply curve because it is the only seller in the market.
Which of the following countries is not a member of NAFTA?
A) Canada. B) The United States of America. C) Mexico. D) All three countries form part of NAFTA.
Which of the following properties is common to a partnership business?
a. Limited liability b. Centralized ownership and management c. Continuity and unlimited existence of the business d. Co-ownership of contributed assets
Which of the following is a type of ownership that features a fixed payment?
a. common stock b. preferred stock c. retained earnings d. bonds