Author Question: If a monopolist could sell 5 units at 6 and 6 units at 5: a. marginal revenue for the 6th unit is ... (Read 57 times)

newbem · **on:** Jun 30, 2018

If a monopolist could sell 5 units at 6 and 6 units at 5:
a. marginal revenue for the 6th unit is 5.
b. marginal revenue for the 6th unit is zero.
c. demand is unit elastic over that range of prices.
d. both (b) and (c) are true.

Question 2

Protection is rarely withdrawn from infant industries because such firms are necessary to ensure creation of domestic jobs.
a. True
b. False
Indicate whether the statement is true or false