If the demand for a monopolist's product increases, its
A) marginal revenue increases, making it more profitable to hire more workers.
B) marginal revenue increases, making it more profitable to hire fewer workers.
C) marginal revenue decreases, making it more profitable to hire more workers.
D) marginal revenue decreases, making it more profitable to hire fewer workers.
Answer: A
You might also like to view...
The figure above shows Clara's demand for CDs. The price for a CD is $15. Which statement is TRUE?
A) When Clara buys 6 CDs, she receives $15 of consumer surplus on her 6th CD. B) When Clara buys 6 CDs, she receives a total of $15 of consumer surplus. C) When Clara buys 6 CDs, she receives a total of $30 of consumer surplus. D) When Clara buys 6 CDs, she receives a total of $45 of consumer surplus.
Identify the main reason to expect convergence in the long run.
A. Low-productivity countries learning from high-productivity countries B. Rapid growth in the supply of capital in low-productivity countries C. Educational attainment rising quickly in low-productivity countries D. Economic complacency and mismanagement in high-productivity countries