A monopolist can sell 7 units per day at $7 per unit, or 8 units per day at $6 per unit. Its marginal revenue for the eighth unit of output is:
a. $48.
b. $6

In a competitive market the ________ curve shows the marginal benefit received by consumers and the ________ curve shows the marginal cost to producers

A) demand; market demand B) supply; demand C) supply; market supply D) demand; supply

Legislators argue that a minimum wage law is instituted to help poor people. Economists can attack the minimum wage law on two fronts. First, some argue that government should not help the poor

Second, some argue that minimum wage laws actually hurt the poor because it creates unemployment. Which argument is normative and which is positive?