For a monopolist, marginal revenue is always
a. below market price
b. equal to market price
c. greater than market price
d. equal to total revenue
e. equal to total cost
A
Economics
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During periods of poor economic performance, real GDP
A) declines and unemployment declines. B) is unchanged but unemployment rises sharply. C) declines and unemployment rises. D) declines but unemployment typically does not change.
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Refer to the above table. If the price is $5, the maximum economic profits this firm could earn is
A) $520. B) $420. C) $414. D) $106.
Economics