Author Question: Graphically, the marginal revenue curve of a monopolist: a. lies below the demand curve of a ... (Read 130 times)

HCHenry · **on:** Jun 30, 2018

Graphically, the marginal revenue curve of a monopolist:
a. lies below the demand curve of a monopolist.
b. is the same as the demand curve of a monopolist.
c. lies above the demand curve of a monopolist.
d. is the same as the marginal cost curve of a monopolist.

Question 2

A manufacturer of towels finds that his returns to scale are constant. Which of the following conclusions can be drawn?
a. The long-run total cost curve is horizontal.
b. The long-run average cost curve is horizontal.
c. The long-run total cost curve is downward sloping.
d. The long-run average cost curve is downward sloping.