Author Question: The peak of the total revenue curve is achieved at the point where: a. marginal revenue is the ... (Read 108 times)

Mr3Hunna · **on:** Jun 30, 2018

The peak of the total revenue curve is achieved at the point where:
a. marginal revenue is the highest.
b. price is the highest.
c. marginal revenue is zero.
d. marginal cost is zero.

Question 2

A firm, such as a public utility, which is the sole producer in a market in which the government determines prices and standards of service, is known as a(n):
a. local monopoly.
b. natural monopoly.
c. regulated monopoly.
d. oligopoly.
e. monopolistically competitive firm.