Author Question: Compared to a perfectly competitive firm with the same cost structure, a monopoly firm will charge ... (Read 57 times)

tuffie · **on:** Jun 30, 2018

Compared to a perfectly competitive firm with the same cost structure, a monopoly firm will charge a:
a. higher price and sell more.
b. lower price and sell more.
c. higher price and sell less.
d. lower price and sell less.
e. similar price and sell the same.

Question 2

If total utility increases from 10 to 15 for the second unit of a good consumed, the marginal utility of the second unit is 5.
a. True
b. False
Indicate whether the statement is true or false