For a monopolist:
A. price equals average total cost.
B. price is above marginal revenue.
C. marginal revenue equals zero.
D. marginal cost equals zero.
Answer: B
Economics
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Based on the model of the money market, if the Federal Reserve increases the reserve requirement, the equilibrium interest rate should
A) stay the same. B) increase. C) decrease. D) increase to the same extent that the demand for money increases.
Economics
The marginal tax rate is
A) the sum of all individual tax rates. B) the total taxes paid as a percentage of total income. C) the average tax rate paid by both individuals and corporations. D) the increase in taxes as a percentage of the increase in income.
Economics