Leakages cause diversion of income from the domestic spending stream

Suppose that for a curve, as the variable measured on the x-axis increases, the variable measured on the y-axis decreases. The curve has a ________ slope

A) tangent B) positive C) negative D) hypothetical

A monopoly incurs a marginal cost of $1 for each unit produced. If the price elasticity of demand equals -2.0, the monopoly maximizes profit by charging a price of

A) $1.00. B) $1.50. C) $2.00. D) $3.00.