This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Comment on the following statement: For a monopolist, marginal revenue is always equal to price. ... (Read 27 times)

arivle123

  • Hero Member
  • *****
  • Posts: 569
on: Jun 29, 2018
Comment on the following statement: For a monopolist, marginal revenue is always equal to price.
 
  What will be an ideal response?

Question 2

Refer to Table 8-18. What is real GDP in 2016, using 2011 as the base year?
 
  A) 28,885 B) 11,790 C) 11,200 D) 10,275


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

carojassy25

  • Sr. Member
  • ****
  • Posts: 299
Reply #1 on: Jun 29, 2018
Answer to Question 1

The statement is false. Marginal revenue is less than price for a monopolist (at every level of output except for the first unit). This is due to the fact that the demand curve facing a monopolist is downward sloping. When a monopolist increases output by one unit, he must lower the price on all units sold. This means that the increase in revenue will be less than the price of the good.

Answer to Question 2

D


arivle123

  • Member
  • Posts: 569
Reply 2 on: Jun 29, 2018
Gracias!

atrochim

  • Member
  • Posts: 331
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

Earwax has antimicrobial properties that reduce the viability of bacteria and fungus in the human ear.

Example of Reconciling a Bank Statement Example of Reconciling a Bank Statement
How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
A company that makes environmental measuring devices has calculated their revenue and costs as ... A company that makes environmental measuring devices has calculated their revenue and costs as ...
Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ... Sonal bought a coat for $198.88, which included 8% PST and 5% GST. What was the selling price ...
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: Pneumonia Animation

For a complete list of videos, visit our video library