If people begin to favor science fiction novels to a greater degree than previously, the demand curve for science fiction novels

A) shifts rightward.
B) shifts leftward.
C) stays constant.
D) can shift either rightward or leftward.

A

Economics

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Assume that a monopolist practices perfect price discrimination. The firm's marginal revenue curve will

A) be perfectly elastic. B) be equal to its demand curve. C) lie below its demand curve. D) be perfectly inelastic.

Economics

Which of the following is not true concerning producer surplus? a. It is qraphically the area under the supply curve and above the market price. b. It exists in equilibrium

c. A leftward shift of the supply curve will decrease producer surplus. d. A rightward shift of the supply curve will increase producer surplus.

Economics