Author Question: For a profit-maximizing monopolist, the price of a product is: a. always equal to marginal revenue. ... (Read 122 times)

joblessjake · **on:** Jun 30, 2018

For a profit-maximizing monopolist, the price of a product is:
a. always equal to marginal revenue.
b. always greater than marginal revenue.
c. always less than marginal revenue.
d. always equal to the average total cost of production.

Question 2

Which of the following statements about international trade restrictions is true?
a. They ensure that only efficient producers survive.
b. They ensure that countries specialize only in those products that they can produce most efficiently.
c. They harm domestic consumers in the majority of cases.
d. They typically benefit foreign producers at the expense of domestic consumers.
e. They ensure that higher-quality goods are provided at lower prices.