For a monopolist:
a. price equals average total cost.
b. price is above marginal revenue.
c. marginal revenue equals zero.
d. marginal cost equals zero.
e. average total cost equals marginal cost.
b
You might also like to view...
The Norwegian government uses $500,000 of previously obtained U.S. dollars to buy $500,000 of police cars from a U.S. company. As a result of this exchange, by how much, if at all, and in which direction did: A. U.S. net exports change? B. U.S. net capital outflow change?
Answer the following statement(s) true (T) or false (F)
1. When suppliers are not satisfied, they lower their prices to attract more demanders. 2. If the demand for a good is high, then there will be a shortage of that good. 3. The equilibrium price of a good will rise in response to either a rise in demand or a fall in supply. 4. When a sales tax of 50¢ per carton is imposed on cigarettes, the equilibrium price drops by precisely 50¢ per carton. 5. Suppliers of a commodity are better off whenever the legal incidence of a tax is shifted away from the suppliers to the demanders.