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Author Question: If marginal revenue is less than price for a firm, it must be true that the firm a. is a monopoly ... (Read 62 times)

KWilfred

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on: Jun 30, 2018
If marginal revenue is less than price for a firm, it must be true that the firm
 a. is a monopoly
  b. is in perfect competition
  c. is in monopolistic competition
  d. faces a perfectly elastic demand curve
  e. faces a downward-sloping demand curve

Question 2

Dairy price supports result in a redistribution of welfare from consumers to dairy farmers.
 a. True
  b. False


Beatricemm

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Reply #1 on: Jun 30, 2018
Answer to Question 1

E

Answer to Question 2

A


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