Refer to the table above. Which of the following statements is true of the monopolist's total revenue?
A) As the monopolist reduces the price of its product from $9 to $3, its total revenue decreases.
B) As the monopolist reduces the price of its product from $9 to $3, its total revenue increases.
C) As the monopolist reduces the price of its product from $9 to $3, its total revenue increases then decreases.
D) As the monopolist reduces the price of its product from $9 to $3, its total revenue decreases then increases.
C
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Left shoes and right shoes are perfect complements. An indifference curve for left and right shoes is a line with
A) constant slope. B) a 30-degree angle. C) a 45-degree angle. D) a 90-degree angle.
Points to the left of the LM schedule show that
a. the amount of money supplied exceeds the amount of money demanded. b. saving plus taxes will exceed investment plus government purchases. c. the amount of money demanded exceeds the amount of money supplied. d. investment plus government purchases will exceed saving plus taxes.