Which of the following is true when the government imposes a price ceiling on a monopolist?
A) Marginal revenue becomes horizontal.
B) Marginal revenue is linear.
C) Marginal revenue is kinked—horizontal and then downward sloping.
D) Marginal revenue is kinked—downward sloping and then horizontal.
C
Economics
You might also like to view...
Which of the following products may have a free-rider problem?
A) On-the-job training programs B) Environmental protection programs C) Movie DVDs D) Mobile phones
Economics
A currency depreciation is inflationary and probably also expansionary.
Answer the following statement true (T) or false (F)
Economics