The peak of the total revenue curve is achieved at the point ...

[Mr3Hunna]

The peak of the total revenue curve is achieved at the point where:
 a. marginal revenue is the highest.
  b. price is the highest.
  c. marginal revenue is zero.
  d. marginal cost is zero.

Question 2

A firm, such as a public utility, which is the sole producer in a market in which the government determines prices and standards of service, is known as a(n):
 a. local monopoly.
  b. natural monopoly.
  c. regulated monopoly.
  d. oligopoly.
  e. monopolistically competitive firm.

[Ahernandez18]

Answer to Question 1

C

Answer to Question 2

c

[Mr3Hunna]

Thanks for the timely response, appreciate it

[xoxo123]

Gracias!