If a 10 percent price increase causes the quantity demanded for a good to decrease by 10 percent, demand is unitary elastic

For a single-price monopolist, why is marginal revenue less than price?

A) Because the firm is a price taker. B) To sell another unit, the price must be lowered. C) Demand is elastic when another unit is sold. D) Demand is inelastic when another unit is sold. E) The question is false because marginal revenue is always equal to price.

The firm's demand curve for labor is

A) the marginal revenue product curve for labor. B) the demand curve for the good produced divided by the price of the good. C) the marginal physical product curve for labor divided by the price of the good. D) the marginal physical product curve for labor multiplied by the price of labor.