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Author Question: If the demand for its product is elastic, a monopoly's A) total revenue is unchanged when the ... (Read 80 times)

KWilfred

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on: Jun 29, 2018
If the demand for its product is elastic, a monopoly's
 
  A) total revenue is unchanged when the firm lowers its price.
  B) total revenue decreases when the firm lowers its price.
  C) marginal revenue is positive.
  D) marginal revenue is zero.

Question 2

In the above table, diminishing marginal returns start to occur when the
 
  A) 3rd worker is employed.
  B) 4th worker is employed.
  C) 5th worker is employed.
  D) 6th worker is employed.


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nmyers

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

C

Answer to Question 2

B


KWilfred

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

momolu

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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