A single-price monopolist maximizes profits by producing the output at which
A) price equals marginal cost.
B) price equals marginal revenue.
C) marginal revenue equals marginal cost.
D) marginal cost equals average cost.
C
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Which of the following statements is true?
A) If a bank lends a sum of $600 to a firm, the sum is a part of the bank's liability. B) If a bank lends a sum of $200 to a household, the sum is a part of the bank's liability. C) If a firm deposits a sum of $500 in a bank, the sum is a part of the bank's assets. D) If a firm deposits a sum of $500 in a bank, the sum is a part of the bank's liability.
The consumers' surplus derived from the last unit of a good purchased
a. tends to be less than 0 b. tends to be equal to 0 c. tends to equal the price of the good d. tends to be greater than the price of the good e. depends on the marginal utility of the first unit purchased