A monopolist always decides on how much to produce by equating marginal revenue to zero
Indicate whether the statement is true or false
F
You might also like to view...
Your neighbor has just planted some fragrant flowers. The wonderful scent drifts into your room and makes you happy
A) This scent is an internal cost to you. B) This cannot be an externality since you are enjoying the scent. C) This is an externality since you get a benefit from your neighbor's flowers. D) The social cost of this activity is entirely borne by you neighbor.
Demand is said to be elastic when the:
A. percentage change in quantity demanded is greater than the percentage change in price. B. change in quantity demanded is less than the change in price. C. percentage change in quantity demanded is less than the percentage change in price. D. change in quantity demanded is greater than the change in price.