A single-price monopolist will maximize profit by producing so that marginal revenue A) exceeds ...

Author Question: A single-price monopolist will maximize profit by producing so that marginal revenue A) exceeds ... (Read 67 times)

clmills979

Hero Member
Posts: 551

on: Jun 29, 2018

A single-price monopolist will maximize profit by producing so that marginal revenue

A) exceeds marginal cost.
B) is less than marginal cost.
C) equals marginal cost.
D) equals price.

Question 2

If the income elasticity of demand for spaghetti is -1.3, then spaghetti

A) is a normal good.
B) is an inferior good.
C) has an elastic demand.
D) is income elastic.

Missbam101

Sr. Member
Posts: 341

Reply #1 on: Jun 29, 2018

Answer to Question 1

C

Answer to Question 2

B

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