Refer to the table above. Which of the following statements is ...

[bcretired]

Refer to the table above. Which of the following statements is true of the monopolist's marginal revenue?
 
  A) As the monopolist reduces the price of its product from 9 to 3, the marginal revenue decreases.
  B) As the monopolist reduces the price of its product from 9 to 3, the marginal revenue increases.
  C) As the monopolist reduces the price of its product from 9 to 3, the marginal revenue first increases then decreases.
  D) As the monopolist reduces the price of its product from 9 to 3, the marginal revenue first decreases then increases.

Question 2

Refer to the table above. If the market is perfectly competitive, the equilibrium quantity of calculators is:
 
  A) 3 units.
  B) 5 units.
  C) 6 units.
  D) 8 units.

[guyanai]

Answer to Question 1

A

Answer to Question 2

B

[bcretired]

Great answer, keep it coming

[nanny]

Thanks for the timely response, appreciate it