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Author Question: A single-price monopolist will maximize profit by producing so that marginal revenue A) exceeds ... (Read 102 times)

clmills979

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  • Posts: 551
on: Jun 29, 2018
A single-price monopolist will maximize profit by producing so that marginal revenue
 
  A) exceeds marginal cost.
  B) is less than marginal cost.
  C) equals marginal cost.
  D) equals price.

Question 2

If the income elasticity of demand for spaghetti is -1.3, then spaghetti
 
  A) is a normal good.
  B) is an inferior good.
  C) has an elastic demand.
  D) is income elastic.


Missbam101

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  • Posts: 341
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


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