A conglomerate is a(n):
A. firm that owns plants in different markets and industries.
B. industry in which there is only one firm.
C. firm with monopoly power.
D. firm that owns plants at various stages of the production process.
Answer: A
Economics
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For a monopolist, as output expands, price and marginal revenue become more divergent (i.e., are farther apart)
a. True b. False
Economics
Purchasing goods such that the ratio of marginal utility to price is equal across all goods results in the:
A. same expenditure on all goods. B. greatest marginal utility. C. lowest expenditure. D. greatest total utility.
Economics