When companies sell slightly different forms of a product to different groups of customers, this is known as

A monopoly faces an inverse demand curve of P = 100 - 2Q. The marginal cost curve is MC = .5Q. What government price ceiling would represent optimal price regulation?

What will be an ideal response?

The law of demand states that, other things equal, when the price of a good rises, the quantity demanded of the good rises, and when the price falls, the quantity demanded falls

a. True b. False Indicate whether the statement is true or false