This table represents the revenues faced by a monopolist.PriceQuantity SoldTotal RevenueAverage RevenueMarginal Revenue$1,0001$1,000 $9002$1,800 $8003$2,400 $7004$2,800 $6005$3,000 $5006$3,000 $4007$2,800 Using the information in the table shown, if you were to graph the first two columns, you would have graphed which curve?
A. Marginal revenue
B. Total productivity
C. Market demand
D. Market supply
Answer: C
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For a normal good, a decrease in demand is caused by
A) a rise in income. B) a fall in income. C) a rise in price. D) a fall in price.
Which of the following would cause an unambiguous decrease in the real price of DVD players?
A) A shift to the right in the supply curve for DVD players and a shift to the right in the demand curve for DVD players. B) A shift to the right in the supply curve for DVD players and a shift to the left in the demand curve for DVD players. C) A shift to the left in the supply curve for DVD players and a shift to the right in the demand curve for DVD players. D) A shift to the left in the supply curve for DVD players and a shift to the left in the demand curve for DVD players.