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Author Question: Which of the following best explains why a monopolist's marginal revenue is less than the sale ... (Read 33 times)

sheilaspns

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on: Jun 30, 2018
Which of the following best explains why a monopolist's marginal revenue is less than the sale price?
 a. To sell more units, a monopolist must increase the price on all units sold.
 b. As a monopolist expands output, its average total cost declines.
 c. When a firm has a monopoly, consumers have no choice other than to pay the price set by the monopolist.
  d. When a monopolist reduces price in order to sell more units, it must lower the price of some units that could otherwise have been sold at a higher price.

Question 2

Which of the following is consistent with increasing returns to scale?
 a. An upward sloping marginal cost curve
  b. A downward sloping marginal cost curve
  c. An upward sloping long-run average cost curve
  d. A downward sloping long-run average cost curve


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jaymee143

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

D


sheilaspns

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

bitingbit

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Reply 3 on: Yesterday
Excellent

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