The demand equation for a single price monopolist is P = 120 - 3Q. The marginal revenue curve for this monopolist is

What does the Herfindahl-Hirschman Index value near 10,000 imply about the market?

a. Pure monopoly b. Perfect competition c. Monopolistic competition d. Oligopoly

A restaurant offers an "all you can eat" meal for $9 . Tyrone has eaten three servings and is trying to decide whether or not to go back for a fourth. The economic way of thinking suggests that Tyrone should go back for the fourth serving if and only if

a. his marginal benefit of the additional serving is greater than zero. b. his marginal benefit of the additional serving is at least $3. c. his marginal benefit of the additional serving is $9 or more. d. his total value from the meal exceeds $9.