Suppose sugar and artificial sweeteners are perfect substitutes for Sam. Her indifference curves for those two goods would be
A) downward-sloping and convex to the origin.
B) downward-sloping and straight lines.
C) L-shaped.
D) downward-sloping and concave to the origin.
B
Economics
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Which of the following is ALWAYS true for a profit-maximizing single-price monopolist?
A) P = MC B) P = MR C) MR = MC D) MC = ATC
Economics
If a profit-maximizing monopolist is currently charging a price on the inelastic portion of its demand curve, it should ______.
a. raise price and decrease output b. lower price and increase output c. reduce both output and price d. hold output constant and raise price e. do none of these
Economics