This topic contains a solution. Click here to go to the answer

Author Question: If the demand for its product is inelastic, a monopoly's A) total revenue increases when the firm ... (Read 95 times)

sdfghj

  • Hero Member
  • *****
  • Posts: 552
If the demand for its product is inelastic, a monopoly's
 
  A) total revenue increases when the firm lowers its price.
  B) total revenue is unchanged when the firm lowers its price.
  C) marginal revenue is negative.
  D) marginal revenue is equal to zero.

Question 2

If a firm's marginal product of labor is less than its average product of labor, then an increase in the quantity of labor it employs definitely will
 
  A) decrease its total product.
  B) decrease its average product of labor.
  C) increase its marginal product of labor.
  D) not change its average product of labor.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

voltaire123

  • Sr. Member
  • ****
  • Posts: 301
Answer to Question 1

C

Answer to Question 2

B




sdfghj

  • Member
  • Posts: 552
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it


debra928

  • Member
  • Posts: 342
Reply 3 on: Yesterday
Excellent

 

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

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

Did you know?

One way to reduce acid reflux is to lose two or three pounds. Most people lose weight in the belly area first when they increase exercise, meaning that heartburn can be reduced quickly by this method.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

For a complete list of videos, visit our video library