The debt floor limits the total amount of money the federal government can legally borrow

For a single-price monopolist, why is marginal revenue less than price?

A) Because the firm is a price taker. B) To sell another unit, the price must be lowered. C) Demand is elastic when another unit is sold. D) Demand is inelastic when another unit is sold. E) The question is false because marginal revenue is always equal to price.

If all firms had to bear all the social costs of their actions, we should observe marginal cost curves

A) of all firms shifting up. B) of some firms shifting up, of some others shifting down, and of the rest not shifting at all. C) of all firms that had generated externalities shifting up while there would be no change for the rest of the firms. D) of some firms shifting up and of the rest shifting down.