Which of the following is true for a monopolist? a. The firm has ...

[theo]

Which of the following is true for a monopolist?
 a. The firm has a perfectly elastic demand curve.
  b. The firm has a perfectly inelastic demand curve.
  c. The straight-line demand curve is above the marginal revenue curve.
  d. The marginal revenue curve is above the demand curve.
  e. All of these.

Question 2

Which of the following statements is true?
 a. Total utility is the extra satisfaction from the consumption of a good or service.
  b. Marginal utility is the amount of satisfaction received from all the units of a good or service consumed.
  c. The law of diminishing marginal utility states that as more of a good or service is consumed total utility decreases.
  d. Consumer equilibrium is a combination of goods and services consumed which maximizes total utility from a given budget.

[IRincones]

Answer to Question 1

c

Answer to Question 2

d

[theo]

Thank you

[IRincones]

No problemo