Author Question: Compared to a perfectly competitive industry, a monopolist with the same marginal cost and demand ... (Read 38 times)

deesands · **on:** Jun 30, 2018

Compared to a perfectly competitive industry, a monopolist with the same marginal cost and demand curve will charge:
a. a higher price and produce a higher volume of output.
b. a lower price and produce a higher volume of output.
c. a lower price and produce a lower volume of output.
d. a higher price and produce a lower volume of output.
e. the same price and produce the same volume of output.

Question 2

Marginal utility is always a positive number.
a. True
b. False
Indicate whether the statement is true or false