Author Question: If a monopolist was operating in a price range where marginal revenue was negative, it would be ... (Read 77 times)

yoroshambo · **on:** Jun 29, 2018

If a monopolist was operating in a price range where marginal revenue was negative, it would be

A) in the inelastic range of the demand for its product.
B) in the unit elastic range of the demand for its product.
C) in the elastic range of the demand for its product.
D) maximizing revenue but not profits.

Question 2

The above table shows the short-run total product schedule for the campus book store. At what levels of books sold per hour will the marginal product of labor be greater than the average product of labor?

A) 40 books sold per hour
B) 73 books sold per hour
C) Both A and B are correct.
D) Neither A nor B is correct.