Author Question: The demand curve any monopolist uses in making output decisions is: a. the same as the demand curve ... (Read 57 times)

ghost!

  • Hero Member
  • *****
  • Posts: 560
The demand curve any monopolist uses in making output decisions is:
 a. the same as the demand curve facing a perfectly competitive firm.
  b. vertical, because there are no close substitutes for its product.
  c. horizontal, because there are no close substitutes for its product.
  d. the same as the market demand curve.
  e. perfectly inelastic.

Question 2

If the price of a product rises, consumers buy less of the good because the:
 a. MU/P of the good falls below the MU/P of other goods.
  b. MU/P of the good rises above the MU/P of other goods.
  c. marginal utility of the good diminishes.
  d. total utility of the good diminishes.
  e. marginal utility of the good rises.



macmac

  • Sr. Member
  • ****
  • Posts: 343
Answer to Question 1

d

Answer to Question 2

a



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

Less than one of every three adults with high LDL cholesterol has the condition under control. Only 48.1% with the condition are being treated for it.

For a complete list of videos, visit our video library