On a line graph depicting marginal revenue and marginal cost for a monopoly, the marginal revenue line will ___________ while the marginal cost line will ___________.
a. slope downward/slope upward
b. remain flat/slope downward
c. slope upward/remain flat
d. slope upward/slope downward
a. slope downward/slope upward
For a monopoly, marginal revenue decreases (slopes downward) as additional units are sold. The marginal cost curve slopes upward.
Economics
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If a household has an income of $40 and buys only bus rides at $2 each and magazines at $4 each, what is the equation of the household's budget line?
What will be an ideal response?
Economics