The demand curve for a monopolist differs from the demand curve faced by a competitive firm because the demand curve for:
A. a monopolist is the market demand curve.
B. a monopolist lies below its marginal revenue curve.
C. a competitive firm lies above its marginal revenue curve.
D. a competitive firm is inelastic.
Answer: A
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The divergent behavior of unemployment in the United States and Europe, especially in the 1990s,
a. has been ascribed to different structural characteristics of money markets in the two regions. b. has been attributed to different structural characteristics of labor markets in the two regions. c. cannot be explained for these two regions. d. has been explained with different demographic factors in the two regions.
Which one of the following is the largest component of the money supply (M1) in the United States?
a. demand and other checking deposits b. gold certificates c. credit cards and traveler's checks d. Federal Reserve notes