Author Question: The demand curve of a monopolist is: a. is identical to the marginal cost curve. b. downward ... (Read 44 times)

laurencescou · **on:** Jun 30, 2018

The demand curve of a monopolist is:
a. is identical to the marginal cost curve.
b. downward sloping and above the marginal revenue curve.
c. downward sloping and below the marginal revenue curve.
d. kinked because of recognized interdependence with other firms.

Question 2

In an industry, when the cost curve of a firm is upward sloping at low levels of output relative to the market, it implies:
a. the industry is characterized by constant returns to scale.
b. the industry has a high degree of competition.
c. not many firms can operate together in this industry.
d. the firm can charge a price lower than competition and still cover its costs.