The marginal revenue curve for a monopolist is always below the demand curve.

Refer to Table 2-14. What is Scotland's opportunity cost of producing one guitar?

A) 0.25 motorcycles B) 4 motorcycles C) 12 motorcycles D) 16 motorcycles

Refer to Figure 10.1. If the monopolist is not regulated, the price will be set at ________

A) P1 B) P2 C) P3 D) P4 E) none of the above