Refer to the table below for a monopolist. A non-discriminating monopolist would earn maximum profits of:

If a monopolist lowers its price and its demand is inelastic, then its

A) total revenue increases. B) total revenue decreases. C) total revenue does not change. D) total revenue is negative.

Creative destruction refers to the process where

a. new products and methods of production are continuously replacing old ones b. producing more of one good causes you to produce less of another c. everybody involved is made worse off d. new ways to destroy buildings are employed