For a monopoly producing any output level greater than one, the average revenue curve:
A. lies below the demand curve.
B. lies above the marginal revenue curve.
C. is the same as the marginal revenue curve.
D. lies above the demand curve.
B. lies above the marginal revenue curve.
Economics
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Budget deficits are inflationary when
A. the Federal Reserve contracts the money supply. B. the economy has lots of slack and the aggregate supply curve is horizontal. C. the economy is at full employment and the aggregate supply curve is vertical. D. private citizens buy the bonds to finance the debt.
Economics
If marginal revenue is greater than marginal cost, the firm should
A. raise price. B. raise marginal revenue. C. decrease its rate of output. D. increase its rate of output.
Economics