If a monopolist lowers its price from $45 to $42 in order to increase its sales volume, marginal revenue
a. equals $45.
b. equals $42.
c. is less than $42.
d. is between $45 and $42.
c. is less than $42.
Economics
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If a firm is an oligopolist, which is NOT true?
A) It must pay attention to other firms' prices. B) It is one of a relatively small number of firms dominating its industry. C) It can sell all the units it wants at the going market price. D) It is engaged in a strategic game.
Economics
In the presence of a positive externality, public policy aims to increase quantity beyond the private optimum
Indicate whether the statement is true or false
Economics