The demand curve facing a single-price monopolist
a. is the same as its average revenue curve
b. is the same as its marginal revenue curve
c. is the same as the perfect competitor's demand curve
d. lies above its average revenue curve
e. lies below its marginal revenue curve
A
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What does producer surplus measure?
a) the well-being of society as a whole b) the well-being of sellers c) the well-being of buyers and sellers d) the well-being of buyers
The Denver Broncos is a football team in the NFL, the Colorado Crush is an arena football team, and the Highlands Ranch Falcons is a local High School team
Broncos tickets cost about $415, the Crush cost between $30 and $85 and Falcons tickets are $6. What do the prices per unit tell you about the marginal utility from each of these football games? A) The marginal utility will be equal from each game. B) The marginal utility will be greatest from a Crush game. C) The marginal utility will be greatest from a Falcons game. D) The marginal utility will be greatest from a Broncos game.