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Author Question: Marginal revenue is a. total revenue minus total cost b. total revenue divided by quantity of ... (Read 351 times)

sdfghj

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  • Posts: 552
on: Jun 30, 2018
Marginal revenue is
 a. total revenue minus total cost
  b. total revenue divided by quantity of output
  c. the change in total revenue divided by the change in output
  d. the change in total revenue divided by the change in the quantity of an input used
  e. economic profit

Question 2

Suppose it costs Minnie's Mini-Golf (a monopolist) not a penny more to let another person on the course. If Minnie's faces a linear (downward-sloping) market demand curve, it will maximize profit by choosing the point on the demand curve at which
 a. marginal revenue is greatest
  b. price elasticity is unit elastic
  c. price elasticity is inelastic
  d. price exceeds average total cost by the greatest amount
  e. price exceeds marginal cost by the greatest amount


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leahchrapun

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

C

Answer to Question 2

B


sdfghj

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

atrochim

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  • Posts: 331
Reply 3 on: Yesterday
Excellent

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