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Author Question: How does marginal revenue compare to price for a single-price monopoly? What will be an ideal ... (Read 61 times)

Anajune7

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on: Jun 29, 2018
How does marginal revenue compare to price for a single-price monopoly?
 
  What will be an ideal response?

Question 2

What is a price ceiling?
 
  What will be an ideal response?


tuate

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Marginal revenue is less than price.

Answer to Question 2

A price ceiling is a maximum price that sellers can charge for a product.


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