When graphing a demand curve for corn, we are showing the relationship between the quantity demanded of corn and the

For a profit-maximizing monopolist,

a. P > MR = MC. b. P = MR = MC. c. P > MR > MC. d. MR < MC < P.

Scarcity implies that

A) people should limit their wants, since shortages exist. B) firms should be more efficient when producing goods. C) people must make choices. D) nonrenewable resources should never be used.