The marginal revenue for a single-price monopoly with a downward-sloping demand curve
A) is less than the price.
B) is greater than the price.
C) is equal to the price.
D) might be more than, less than, or equal to the price, depending on whether the slope of the demand curve exceeds 1.0 in magnitude.
E) might be more than, less than, or equal to the price, depending on whether the price elasticity of demand exceeds 1.0 in magnitude.
A
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Airline knows from exp. Vacation travel has elastic demand for travel whereas business travels have an inelastic demand for travel in order maximizes the airline should?
A. Offer everyone a discount to increase sales. B. Increase price to everyone. C. Try to increase price for vacation travelers and decrease price for business travelers. D. Try to decrease price for vacation travelers and increase price for business travelers. E. Ignore this information.
A change in the money wage rate shifts
What will be an ideal response?