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Author Question: If a demand curve shifts to the left, then A) quantity demanded has increased. B) demand has ... (Read 132 times)

big1devin

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on: Jun 29, 2018
If a demand curve shifts to the left, then
 
  A) quantity demanded has increased. B) demand has increased.
  C) quantity demanded has decreased. D) demand has decreased.

Question 2

Why is marginal revenue less than price for a monopolist?
 
  What will be an ideal response?


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Kjones0604

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

To a monopolist, marginal revenue is less than price because to raise output one unit and be able to sell that one unit, the firm must lower the price it charges to all buyers.


big1devin

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

bblaney

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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