Under which of the following does a monopoly's demand curve become its marginal revenue curve?
A) all types of monopoly
B) only single-price monopoly
C) only perfect price discrimination
D) only price discrimination on the basis of the number of units purchased
E) any monopoly that price discriminates
C
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The opportunity cost of taking an on-line history class is
A) the cost of tuition and fees only. B) zero because there is no classroom time involved if you are enrolled in the course. C) the value of the time spent on line. D) the knowledge and enjoyment you receive from taking the class. E) equal to the highest value of an alternative use of the time and money spent on the class.
In the above figure, the opportunity cost of moving from producing 50 guitars and 50 ukuleles to producing 25 guitars and 75 ukuleles is
A) 25 guitars. B) 75 ukuleles. C) 25 ukuleles. D) 50 guitars.