Question 1
When the demand curve is a downward sloping straight line, the quantity at which the demand curve intersects the horizontal (quantity) axis is ________ the quantity at which the marginal revenue curve intersects the horizontal (quantity) axis.
◦ equal to
◦ less than
◦ twice
◦ four times
Question 2
The Rare Bird Company has a monopoly in the sale of macaws in Iowa. When the Rare Bird Company sells three macaws, its marginal revenue is $30. When the Rare Bird Company sells four macaws, its marginal revenue will be
◦ less than $30.
◦ greater than $30.
◦ equal to $30.
◦ greater than $30 if demand is elastic and less than $30 if demand is inelastic.
Kiwi Bird
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Heron Bird
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