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Author Question: Marginal revenue is a. total revenue minus total cost b. total revenue divided by quantity of ... (Read 365 times)

sdfghj

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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
Excellent

scikid

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  • Posts: 300
Reply 3 on: Yesterday
Great answer, keep it coming :)

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