Author Question: For a monopoly, at the level of output where marginal revenue equals zero, then the A) firm earns ... (Read 122 times)

jjjetplane · **on:** Jun 29, 2018

For a monopoly, at the level of output where marginal revenue equals zero, then the

A) firm earns no revenue.
B) price elasticity of demand at this amount of output is zero.
C) firm has maximized total revenue.
D) firm is a price taker.

Question 2

In the table above, in terms of units of pizza, real income is

A) lower in case A than in cases B and C.
B) lower in case B than in cases A and C.
C) lower in case C than in cases A and B.
D) equal in all three cases.