« previous next »

Author Question: For a monopolist with a downward-sloping demand curve, a. the coefficient of price elasticity of ... (Read 65 times)

crobinson2013

  • Hero Member
  • *****
  • Posts: 535
on: Jun 30, 2018
For a monopolist with a downward-sloping demand curve,
 a. the coefficient of price elasticity of demand is infinite.
  b. the coefficient of price elasticity of demand is zero.
  c. as price increases, marginal revenue decreases.
  d. as price decreases, marginal revenue decreases.
  e. when the price is equal to zero, marginal revenue is equal to zero.

Question 2

In the theory of consumer choice, when a person is choosing which good or service to consume, how does he or she select the units of good or service to consume?
 a. The person selects the good or service based on need.
 b. The person selects the units of a good or service that generates the greatest marginal utility. This process continues until there budget is spent.
  c. The person selects the units of a good or service that generates the greatest marginal utility per dollar spent. This process continues until the person's budget is spent.
  d. The person randomly selects what they buy until the budget is spent.


IRincones

  • Sr. Member
  • ****
  • Posts: 321
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

Did you know?

The heart is located in the center of the chest, with part of it tipped slightly so that it taps against the left side of the chest.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

The Light Curve of a Nova The Light Curve of a Nova
The titration curve of phosphoric acid (H3PO4), a common buffer in biological sy The titration curve of phosphoric acid (H3PO4), a common buffer in biological sy
A typical distillation curve. Heavier molecules evaporate at higher temperatures and contain more ... A typical distillation curve. Heavier molecules evaporate at higher temperatures and contain more ...
How to find the equation of a cosine curve How to find the equation of a cosine curve
A dose-response curve describes the relationship between the quantity of the chemical entering the ... A dose-response curve describes the relationship between the quantity of the chemical entering the ...
Construct a Lorenz curve that shows income distribution in this society. Construct a Lorenz curve that shows income distribution in this society.
Video: A Human Karyotype Preparation Animation

For a complete list of videos, visit our video library