For a monopolist, marginal revenue is:
a. less than price.
b. equal to price.
c. greater than price.
d. greater than average revenue.
a
Economics
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Opportunity cost is:
A) zero for the use of a free combo meal offer. B) the dollar payment for a product. C) the benefit derived from a product. D) the value of the best alternative forgone in making any choice.
Economics
As the area between the Lorenz curve and diagonal gets larger, the Gini ratio:
A. Rises to reflect greater equality B. Rises to reflect greater inequality C. Falls to reflect greater inequality D. Falls to reflect greater equality
Economics